Market Analysis
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Financials reflect MIA’s evolving business model
The 2012 financial statements of Malta International Airport plc which were published last week portray the evolving business model of the airport operator. The financial statements clearly indicate that the record level of profitability (+2.9 per...
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Italy, Cyprus woes push European shares to new low
European shares fell to a three-week closing low yesterday, pulled down by poor demand at an Italian debt auction and expectations of a run on Cypriot banks when they reopen on Thursday. Worries about Italy kept demand soft at its latest debt...
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Shipping movements
These vessels are expected in Malta: The Annamarie from Tunis to Sfax, the Merito from Skikda to Misurata, and the Charlotta from Mersin to Taranto (Carmelo Caruana Co Ltd) today. The King Basil from Aliaga to Mersin, the Furth from Gemlik to...
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Cash is no longer king
The ordeal of Cypriot depositors has been well-documented in the press over the past couple of weeks. With the European Central Bank threatening to cut off emergency financing for its ailing banking system, Cyprus’s leaders reached an agreement with...
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Euro swept lower despite deal for Cyprus
Ahead of an 11th-hour deal which allowed Cyprus to avert a banking collapse did little to stop the euro from stumbling lower yet again. The single currency had initially risen on Monday after opening the week lower for the second consecutive week,...
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Record 2012 dividend for Lombard Bank shareholders
The reporting season is now in full swing with two companies issuing their 2012 financial statements last week and Go plc, Malta International Airport plc and Medserv plc this week. Lombard Bank Malta plc was among the three companies which...
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European shares recover; market eyes Cyprus compromise
European shares broke a three-day losing streak yesterday as investors bet on policymakers finding a fix for Cyprus’ bailout problems, although some traders cautioned against buying up equities at current levels. The pan-European FTSEurofirst 300...
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Shipping movements
These vessels are expected in Malta: The Karina from Bejaia to Algiers, the Consouth from Annaba to Algiers, the Tyrusland from Tripoli to Benghazi, the Fas Dammam from Marseille to Bejaia, the Eemsdijk from Tunis to El Khoms, the CMA CGM Gemini...
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When safe is not so safe
The announcement that a levy (another word for expropriation) would be imposed on deposits at Cypriot banks in order to help finance the country’s bailout package must be one of the most bizarre and incomprehensible decisions ever taken by the...
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A bumpy start for a busy week
Ahead of week’s start news released over the weekend spooked investors worldwide. Last Saturday it was reported that Cyprus was requesting bank deposit holders to share in the burden of a proposed €10 billion bailout agreed with the EU and IMF. The...
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Revised listing policies should reignite corporate bond market
The Malta Financial Services Authority issued another consultation document on February 19 proposing some further changes to the listing policies. These policies had been the subject of various debates by issuers and members of the financial...
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Thomas Cook targets $500m profit boost
Travel firm Thomas Cook aims to boost profits by more than $500 million in the next three years by moving more of its operations online and further cutting costs, it said yesterday. A long-awaited strategy update from chief executive Harriet Green...
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Strong data from the US helps stocks in Europe to recover
European shares recouped their earlier losses to end flat near four- and-a-half-year highs yesterday, with sentiment improving after robust US retail sales data pointed to a continued recovery in the world’s biggest economy. However, Italy’s FTSE...
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Shipping movements
These vessels are expected in Malta: The Ecem Kalkavan from Naples to Catania, the Tyrusland from Tripoli to Tripoli, the CMA CGM Marco Polo from Le Havre to Khor Fakkan, the VD Dubai from Algiers to Algiers, the Taurus J from Gioia Tauro to...
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Reliable economic indicator
Equity markets have historically been viewed as leading economic indicators – a rising equity market reflects a positive growth forecast of the underlying constituents and hence of the economy these constituents operate in – and vice versa. If you...
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Strong jobs report extends dollar rally
The US dollar extended its gains at the end of last week against its major rivals in what was an exceptionally volatile week for currency markets. The dollar index hit its highest level since early August of last year, as the greenback rose to a...
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HSBC dividend up 16% for 2012 financial year
The reporting season for local public companies is now in full swing and HSBC Bank Malta plc’s announcement earlier this week starts off a busy period for analysts as many companies will be issuing their financial statements in the coming weeks. It...
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Sterling still suffers against euro, dollar
London’s blue chip index slipped into the red today despite a big jump in Vodafone’s share price amid talk of a record merger deal in the US. Vodafone shares leapt seven per cent or 11.4p higher to 180p, but the FTSE 100 Index reversed earlier gains...
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Shipping movements
The following vessels are expected in Malta: The Tyrusland from Benghazi to Tripoli, the CMA CGM Enfield from Fos-Sur-Mer to Port Said, the CMA CGM Alabama from Antalya to Antalya, and the Stadt Schwerin from Bejaia to El Khoms (Carmelo Caruana Co...
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Italian election stalemate
The Italian election of February 24 and 25 had a surprising result in which none of the favourites came out as a clear winner. The inconclusive result is reigniting fears relating to the resolution of the euro crisis. This uncertainty shook...
