Financial news

During yesterday’s session on the Malta Stock Exchange the index ended on a negative note as it dropped by a 0.4 per cent to close at the 3,559.177 level. This happened when gains registered in a single equity did not suffice to make up for the losses registered in another two.

RS2 Software headed the list of losers during the day as the equity depreciated by 7c9, which equates to a decline of 20.3 per cent to close at the €0.310 level. Investors in the company exchanged 3,000 shares across two deals.

Meanwhile, Bank of Valletta shares also ended the day in the red as the equity shed 3c9 or 1.3 per cent to close at €2.930. The bank was nevertheless the day’s most actively traded equity as investors negotiated 13,970 shares across 15 deals for a market consideration of €41,152.

In the banking sector, HSBC Bank Malta was the only other equity to be active during the day. Its shares ended the session without registering any change in price, to close at €2.900. Trading activity resulted when 6,778 shares were transacted across five deals.

Likewise, Go and Malta International Airport shares ended the session without registering any changes to their share price, closing unaltered at the €1.730 and €1.800 level respectively.

Elsewhere, Maltapost was the only equity to end the day in positive territory as it gained 0c8 or 0.8 per cent to close at €1.060. Activity in the postal operator resulted when 11,244 shares were exchanged over six deals.

The week ahead - Economic indicators for week starting March 14

This week will have more to offer in terms of data releases in the United States when compared to last week. Today, we shall have the outcome of the Federal Reserve’s rate setting meeting, where it is expected that interest rates remain unchanged. More insight on the state of the real estate market will be offered via a number of indicators tomorrow, namely the housing starts and building permits figures.

This week we will also have the inflation data for the month of February via the publication of the producer price index and the consumer price index. Of interest as well will be February’s industrial production data, due on Thursday, where markets are expecting an increase on the previous month’s figure.

In the eurozone, after the publication of the industrial production data for the month of January yesterday, the weekly calendar will not be so full of data releases. Of interest will be the publication of the ZEW Index today, which will give an indication of the economic sentiment in the region during March. Tomorrow we shall also be presenting the eurozone’s consumer price index readings for the month of February which is expected to show an increase due to the rise in the price of food and energy. Construction output and trade balance figures, both for January, will round up the week in the area.

In the United Kingdom, market participants’ attention this week will likely focus on the figures to be published in the labour market. These will include the change in the jobless claims count for February, together with the Inter­national Labour Organisation’s unemployment rate for the three months to January.

This article has been prepared by Bank of Valletta plc (the Bank), which is licensed to conduct investment services business by the MFSA, for your general information only. This information is not a solicitation or offer by the Bank to acquire or sell securities. Nor does it constitute any form of advice by the Bank. Appropriate advice should be obtained before making any such decision. Past performance is not necessarily a guide to future performance and the value of your investments may fall or rise.