Market Analysis
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2013 could prove to be a milestone year for IHI
Two weeks ago, International Hotel Investments plc published its 2012 annual report and presented it to the financial community at a business luncheon. The report was recently mailed to all shareholders of the company ahead of the annual general...
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Swiss stocks lift European shares to fresh heights
European shares scaled new five-year highs yesterday, led by gains for several major Swiss stocks after a fresh fall on the Swiss franc that should continue to buoy the country’s exporters. UBS technical analysts said European equity markets may...
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Shipping movements
These vessels are expected in Malta: The K River from Izmir to Izmir, the CMA CGM Onyx from Damietta to Genoa, the Westerburg from Mersin to Antalya, the Macao Strait from Misuratah to Misuratah, the Tyrusland from Tripoli to Tripoli, the Avonmoor...
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The big picture on MGS
The Government of Malta last week announced a new issue of €100 million worth of government stocks split between two existing instruments, namely the three per cent MGS 2019, and 4.5 per cent MGS 2028. It also reserved the right to increase the...
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GBP starts week on a weaker note
Towards the end of last week, the Bank of England left interest rates unchanged and left the Asset Purchases Target at £375 billion, as was widely expected. Actually the pound has enjoyed some better than expected data over the course of the last...
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GHM, Go plc top 2013 dividend league table
As regular followers of my weekly column are aware, at this time of the year, once all companies would have published their full-year financial statements, an updated table showing the dividend yields of companies whose shares are listed on the...
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European shares rise and Deutsche Telekom surges
European shares rose yesterday, extending their three-week rally to fresh multi-year highs, and Deutsche Telekom surged after forecast-beating earnings. The German telecom operator was the best performing blue chip, rising 4.7 per cent to a...
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Shipping movements
These vessels are expected in Malta: The CMA CGM Almaviva from Tanger Med to Port Said, the Saint Roch from Abidjan to Benghazi, the CMA CGM Rigoletto from Port Said to Genoa, the CMA CGM Effingham to Port Said, the Volos from Durres to Taranto, and...
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Pay me to hold your money
Last Thursday, European Central Bank Governor Mario Draghi announced a 25 base point cut in the Central Bank’s main refinancing rate taking this down to 0.50 per cent. This rate cut could have already been partly priced in, but what followed during...
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Euro locked in range despite buoyant sentiment
The EUR/USD has been in somewhat of a see-saw ride since the latter part of last week. Macroeconomic events, including the European Central Bank’s interest rate decision and the non-farm payrolls report from the US, have tugged the most traded...
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Record performance by BOV, but important decisions loom
The six-monthly profit announcements by Malta’s two largest banking institutions are always key events for the local financial market. Last week’s interim results publication by Bank of Valletta plc was also important as it was the first public...
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Dollar slips, oil falls sharply
The dollar hit a two-month low yesterday after disappointing US private-sector job growth reinforced expectations the Federal Reserve will maintain its loose monetary policy, while oil prices slid more than three per cent as the latest data added to...
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Shipping movements
These vessels are expected in Malta: The Sea Breeze from Sfax to Skikda, the CMA CGM Agadir from Algiers to Algiers, and the Westerburg from Mersin to Antalya (Carmelo Caruana Co Ltd), and the Maersk Edinburgh from Fos Sur Mer to Port Said and the...
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Important capital issues
The bail-out of Cyprus was characterised by the intention to make private stakeholders incur a higher proportion of bail-out costs as opposed to taxpayers. The willingness of authorities to bail-in depositors inevitably weakened the relative...
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Softer US growth drives expectations ahead of Fed
High impact data out of the US last Friday set the tone at week’s start. The US’s first quarter GDP advanced (annualised) reading improved, coming out at 2.5 per cent when compared to the previous reading of 0.4 per cent; but investors were more...
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MIH generates €20.7 million in pre-tax earnings in 2012
Last Monday, Mediterranean Investments Holding plc (the joint venture company between the Corinthia Group and the National Real Estate Company of Kuwait) published its financial statements for 2012. This was immediately followed by a meeting with...
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Shares, oil rise after weak data backs ECB rate cut
Global equity markets and crude oil rose yesterday, drawing support from strong corporate earnings and speculation of a European Central Bank interest rate cut after weak German economic data. Wall Street traded flat to lower after a report said US...
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Shipping movements
These vessels are expected in Malta: The Pagola from Ravenna to Trapani, the Thebeland from Tripoli to Tripoli, and the CMA CGM Almaviva from Port Said to Genoa (Carmelo Caruana Co Ltd), and the Jaguar from Benghazi to Benghazi and the Margrethe...
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Does Slovenia need a bailout?
Since the Cyprus bailout last month, rumours have abounded in the financial markets that Slovenia would be the next patient requiring EU/IMF medicine. As part of its regular consultations, last month the IMF conducted a staff visit in Slovenia. The...
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Currencies likely to reflect a weaker growth picture
Throughout the current week we had a number of high profile data from China, Europe and the US, among others. Last Tuesday, Chinese flash manufacturing PMI for April slipped to 50.5 from a previous 51.6. In the eurozone, the advanced reading for...
