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Market Analysis

  • Stocks rise after ISM data, euro down ahead of ECB meeting

    US shares rebounded slightly yesterday after strong data on the US services sector, while soft European economic data weighed on European equities and weakened the euro a day ahead of a closely watched European Central Bank policy...

  • Shipping movements

    The following ships are expected in Malta: The Vega Sigma from Bejaia to Algiers (Carmelo Caruana Co. Ltd) and the Northern Jaguar from Port Said to Genoa (Thomas Smith Shipping Ltd) today. The Oued Ziz from Skikda to Skikda, the CMA CGM Azure...

  • The 2014 dividend league table

    The 2014 dividend league table

    The return on equity represents the profitability achieved in percentage terms compared to the capital invested by the shareholders, but another important ratio which is widely followed by investors is the dividend yield. This represents the...

  • World equity indexes, bond yields climb

    World stock markets and US bond yields rose yesterday on views the Federal Reserve could raise interest rates more slowly than expected. The euro declined for a second straight session against the dollar on expectations of further easing from the...

  • Shipping movements

    The following ships are expected in Malta: The Tyrusland from Tripoli to Tripoli, the Nicola from Tunis to Algiers (both Carmelo Caruana Co. Ltd) and the Maersk Savannah from Port Tangier to Port Said (Thomas Smith Shipping Ltd) today. The Makita...

  • The return on equity revisited

    The return on equity revisited

    Last January I wrote an article about the importance of the return on equity (ROE). At the time, the reporting season had not commenced and therefore the figures quoted were based on the 2012 financials with the exception of Bank of Valletta,...

  • Yields, sterling fall on ECB outlook as stocks dip in US

    Benchmark government bond yields in the US and Germany dropped yesterday after sources told Reuters a European Central Bank rate cut next month is “more or less a done deal,” while US stocks retreated slightly from recent record highs. Eurozone...

  • Shipping movements

    The following ships are expected in Malta: The Furth from Thessaloniki to Avcilar, the Devon Straight from Sfax to Annaba, the CMA CGM Pelleas from Port Said to Genoa, the Sena Kalkavan from Civitavecchia to Gioia Tauro (all Carmelo Caruana Co...

  • Is QE likely in Europe?

    Is QE likely in Europe?

    There has been much talk over the last two months on the possibility that the ECB might commence a Quantitative Easing (QE) programme to kick-start economic growth within the eurozone area. QE is one of a number of policy options available to the...

  • Yen slips as investors take on risk

    Global equity markets rallied at the start of the week dampening demand for safe-haven assets. The yen slipped for the third consecutive day on Tuesday versus the dollar on signs that tensions between Russia and Ukraine were abating. Investor risk...

  • RS2 confirms strong business pipeline

    RS2 confirms strong business pipeline

    Following the publication of the 2013 annual financial statements on April 22, RS2 Software plc convened a stockbrokers meeting a week later to delve deeper into the financial results and to update financial analysts on their strategy and future...

  • Stocks flat after Putin comments; gold falls

    Stock markets around the world were mostly flat yesterday as investors digested comments from Russian President Vladimir Putin that indicated a possible easing to geopolitical concerns over Ukraine that have recently weighed on investors. Gold,...

  • Shipping movements

    The following ships are expected in Malta: The Violet from Southampton to Thessaloniki, the CMA CGM Nevada from Le Havre to Jeddah, the OS Bodrum from Algiers to Bizerte (all Carmelo Caruana Co Ltd) and the Maersk Savannah from Port Said to Genoa...

  • EBA stress test – an overview

    European banking stress tests have an unfortunate history of being neither particularly stressful, nor particularly effective. A case in point is the stress test carried out in July 2011. The test was carried out by reference to what was defined...

  • Draghi’s resolve in talking down the euro

    Mid last week US GDP advance Y/Y was close to flat, barely rising from the previous 2.6 per cent reading. Comments from the Fed that same day in the evening, however, provided some reassurance after this quasi-flat reading. The FOMC communication...

  • BOV’s return on equity drops

    BOV’s return on equity drops

    The semi-annual publication of the financial statements of Malta’s two largest banks is always a defining moment for the local equity market. The widespread debate which escalated in recent weeks on the rates of interest being charged by local...

  • Stocks rise on US growth prospects

    Global equity markets edged higher yesterday as investors looked beyond weak US economic growth data for the first quarter to focus on brighter prospects for the economy, while oil prices fell on record-high US inventories. Wall Street initially...

  • Shipping movements

    The following ships are expected in Malta: The Karina from Tunis to Bejaia, the Oued Ziz from Skikda to Skikda, the Sena Kalkavan from Civitavecchia to Casablanca (all Carmelo Caruana Co. Ltd) today. The Devon Strait from Bejaia to El Khoms, the...

  • The joys of being a banker

    The joys of being a banker

    The time when local banks were being hailed for being an important, strong pillar for the Maltese economy – rather than a ball and chain around the ankle of growth – seems a distant memory. The local banks are today essentially being accused of...

  • Against all odds: the euro holds on tight

    Undoubtedly, the ongoing events in Ukraine continued to dampen risk appetite throughout this last week. As the current week started, a previous negative US close, and a cautious start for Asian equities implied a certain degree of investor concern...

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