Market Analysis
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US budget deal, FOMC minutes lift US dollar
After weeks of quarrelling and bumping heads over a budget deal to avoid automatic spending cuts and tax hikes coming into effect, US lawmakers finally reached an 11th hour deal and averted falling over the ‘fiscal cliff’. The Senate and the US...
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A review of 2012
2012 was again a very volatile year across most international financial markets although both shares as well as bonds in Malta and also internationally generally performed positively. The MSE Share Index measuring the performance of equities listed...
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Wealthy Gulf investors warm to ideas of Africa
Wealthy Gulf Arab companies are boosting their investment in Africa’s vast lands and untapped resources, marking a shift for investors who have traditionally directed their money towards assets in the United States and Europe. One reason for the...
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Bleak 2012 for French auto sales
French new car registrations hit a 15-year low point in 2012 and business looks like it will be just as tough this year, data from the French automobile manufacturers’ association CCFA showed yesterday, mirroring slumps seen elsewhere in the...
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‘Fiscal cliff’ deal looks so-so for US businesses on taxes
The ‘fiscal cliff’ deal that slowly, painfully took shape in the US Congress in recent days fulfills some of corporate America’s tax policy goals, but leaves others unmet, including a big one – real deficit and debt reduction. The Bill, which...
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Global shares rally after US agreement
World stock markets surged yesterday in a roaring start to 2013 after US lawmakers clinched a deal to avert a feared “fiscal cliff” of drastic tax rises and automatic spending cuts. Investors welcomed news that the US Congress had finally approved...
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Shipping movements
These vessels are expected in Malta: The Qingdao Tower from Antwerp to Pireaus (Thomas Smith Shipping) tomorrow. The Cathrine Rickmers from Algeciras to Leghorn (Thomas Smith Shipping) on Sunday. The Jaguar from Benghazi to Benghazi and the BC...
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High yield equities as bond proxies?
With investment grade bond yields at current levels, some income seekers appear increasingly willing to take on lower quality credits in a bid to maintain the same absolute income. They do so with the central assumption that bonds are a ‘safe’ asset...
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Fiscal cliff concern spurs dollar safety bid
Shinzo Abe officially took the helm as the new Prime Minister of Japan on December 26 following the Liberal Democratic Party’s electoral victory. Since assuming power, the new Japanese Government is continually exercising pressure on the Bank of...
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Bond redemptions due in 2013
As the year is quickly coming to an end, it is the time for financial commentators and other journalists not only to look back at what happened over the past 12 months but also to comment on what’s in store for next year. Among the corporate...
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US stocks lower as ‘fiscal cliff ’ talks to resume
US stocks dipped yesterday amid ongoing investor uncertainty as President Barack Obama headed back to Washington to try to secure a year-end ‘fiscal cliff’ deal with Republican lawmakers. The Dow Jones Industrial Average was down 16.14 points (0.12...
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Investors warming to share issues as bond fashion fades
After a year marked by strong demand for selected bonds, investor fashion looks set to switch back to equities next year on the back of more positive macro-economic prospects. Some investment bankers will welcome the change. Companies and their...
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Shipping movements
These vessels are expected in Malta: The Pelleas from Port Said to Genoa (Thomas Smith Shipping) today. The Lana from Antwerp to Pireaus (Thomas Smith Shipping) tomorrow. The Maersk Eindhoven from Suez Canal to Valencia, and the Alexander Maersk...
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2013 – Not if, but what
The performance of almost any asset class was positive this year. It was a question of degree, driven significantly by a catch up in valuations as systemic risk was reduced. Following on from such a performance will be difficult in 2013 but the...
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Stalled US budget talks lift dollar
The yen slipped close to a 20-month low against the US dollar at the start of the week after newly elected Prime Minister Shinzo Abe increased pressure on the Bank of Japan to boost its inflation target in its meeting next month. The Nipponese...
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Highly profitable year for MIH
Mediterranean Investments Holding plc, the joint venture between the Corinthia Group and the National Real Estate Company of Kuwait, is set to generate substantial profits in 2012 from its Palm City development. After completing the extensive...
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European stocks close higher in ‘Santa’ rally
Europe’s main stock markets closed higher yesterday, with Paris’ CAC 40 advancing 0.44 per cent to 3,664.59 points, its highest level this year. London’s FTSE 100 index of leading companies rose 0.43 per cent to 5,961.59 points, while Frankfurt’s...
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Shipping movements
These vessels are expected in Malta: The CMA CGM Lavender from Pireaus to Pireaus, the Thebeland from Tripoli to Tripoli, the Furth from Gemlik to Varna, the CMA CGM Cendrillon from Port Said to Genoa, the Mont Ventoux from Benghazi to Benghazi, the...
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2012 – the year to overcome fears
2012 is slowly drawing to a close. What’s done is largely done. In many ways, 2012 has been a good year for investors, especially those who focused primarily on bond markets. But this is not how it started. We entered 2012 in a state of trepidation...
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A game changer for the Japanese yen?
Japanese elections gave the week’s start a new tinge of optimism, as news hit the wires that the LDP party had won the general elections. This was in line with expectations, but the stronger results are expected to give the LDP-led coalition...
