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Market Analysis

  • Brighter outlook for eurozone, euro nudges higher

    The dollar was under pressure to start off the week, picking up where it had left off the previous week. Economic data published in recent weeks from the world’s largest economy has been somewhat disap-pointing, which has cast doubt on the pace of...

  • Is January a barometer for 2014?

    Is January a barometer for 2014?

    Statistical studies suggest that equity market returns in January are a precursor of the performance over the next 11 months of the year. Hence, the conventional market wisdom that “as goes January, so goes the year”. During the 64-year period...

  • World stock markets rise on Chinese data

    World stock markets edged up for a sixth straight session yesterday after upbeat trade data from China, while the British pound rose to a two-week high against the dollar. US stocks were little changed, with a decline in Procter & Gamble keeping...

  • Shipping movements

    The following ships are expected in Malta: The Taurus J from Sfax to Djen-Djen (Carmelo Caruana Co. Ltd) and the Maersk Regensburg from Sfax to Misurata (Thomas Smith Shipping Ltd) today. The Alexander Sibum from Algiers, the Saint Roch from...

  • Weaknesses emerging

    In recent weeks, global financial markets have been characterised by volatility and weakness in emerging markets (EM). Developing countries’ currencies, debt and equity markets are having the worst start in recent years, with investors withdrawing...

  • US payrolls data surprises

    At the time of writing, the euro had already managed four consecutive daily gains seen against the US dollar. Price action for the EUR/USD has pushed the currency pair +1.35 per cent higher, just short of 1.37 levels in this first part of February.

  • The AX Investments bond issue

    The AX Investments bond issue

    The AX Group is tapping the financial market again through its finance vehicle AX Investments plc. This is the fourth time that the group is using the capital market to finance its ongoing expansion. Initially, the AX Group launched an equity and...

  • Euroshares up following slide

    European stocks inched up yesterday after a steep, two-week sell-off, but concerns about global growth and emerging market currencies kept investors on edge. The FTSEurofirst 300 index of top European shares closed up 0.1 per cent at 1,271.84...

  • Shipping movements

    The following ships are expected in Malta: The MV Eurocargo Venezia from Genoa to Genoa (Sullivan Maritime), the Nicola from Tunis to El Khoms, the Sirius from Alexandria to Mersin, the Saint Roch from Benghazi to Benghazi (all Carmelo Caruana Co.

  • Update on euro periphery countries

    Update on euro periphery countries

    As I discussed in an article on this same paper last November, Ireland exited the EU/IMF bailout programme in December 2013. In this article we briefly report on the other four countries which most consider as the triggers to the eurozone crisis...

  • Softer EZ inflation pressures the euro

    Had we to sum up last week’s highlights, the limelight would certainly go to yesterday’s FOMC post-meeting announcement. In line with expectations the Fed delivered a second $10 billion cut in its asset purchases programme, trimmed equally between...

  • MIA forecasts mild growth after extraordinary 2013

    MIA forecasts mild growth after extraordinary 2013

    On January 23, Malta International Airport plc issued a company announcement and concurrently held a press conference announcing the 2013 traffic results and the forecast for this year. MIA’s CEO Markus Klaushofer delivered a presentation to the...

  • European stocks hit six-week lows

    European shares fell to six-week lows yesterday, breaking below technical support levels in the face of weak earnings and concerns that another trimming of US monetary stimulus may exacerbate the emerging markets rout. Emerging economies – key...

  • Shipping movements

    The following ships are expected in Malta: The MV Eurocargo Malta from Genoa to Genoa (Sullivan Maritime), the CMA CGM Titus from Tanger Med to Port Said, the Westerburg from Port Said to Antalya, the Fiona from Algiers to Skikda, the Meta from...

  • Trendspotting: winners and losers

    Trendspotting: winners and losers

    In this article we discuss a short selection of observed trends, which could stimulate some stock selection ideas. What’s going up • Smaller companies The FTSE 100 was up 14 per cent in 2013 – well above the long run average for equities as an...

  • Emerging market economies face turbulence

    Global financial markets were largely in a risk averse mood for most part of last week and through the first half of this week, ahead of the FOMC decision by the Federal Reserve. Global investors were largely in a risk-off frame of mind, and...

  • The negative performers of 2013

    The negative performers of 2013

    In my first article of the New Year, I reviewed the best performing equities listed on the Malta Stock Exchange during 2013. These were the three companies operating in the IT sector. In that article I also briefly mentioned that only three...

  • Tech firm bumps up Europe shares

    European shares edged up, led by robust results from Dutch technology firm ASML yesterday, but concerns about earnings across the broader market kept a lid on the day’s advance. ASML, the world’s leading provider of tools for making computer...

  • Shipping movements

    These ships are expected in Malta: The Stadt Schwerin from Algiers to Skikda, the Tyrusland from Tripoli to Tripoli, the South of Luck (ex-Hansa Catalina) from Bejaia to Djen Djen, the BFP Galaxy from Izmir to Piraeus, the AS Cypria from Tanger...

  • Where next for the euro?

    Where next for the euro?

    Currency risk in a global investment portfolio may be quite a headache for a portfolio manager. Although hedging such risk is generally straight-forward and relatively cheap (especially for major currencies), opting for the easy way out is a) not...

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