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Market Analysis

  • Central Banks in focus; dollar stays bid on policy divergence

    From the economic calendar front, data last week was predominantly in favour of further reduction of stimulus by the US Federal Reserve. Following a disappointing non-farm payroll reading at the start of the week, it was back to business as far as...

  • Ratio of return on equity

    The return on equity (ROE) is widely used by financial analysts worldwide to gauge a company’s performance. This profitability ratio is calculated by dividing profits (net income) by shareholders’ funds. Essentially, this ratio measures the amount...

  • European shares hitting five-and-a-half year highs

    European shares scaled fresh five-and-a-half year highs yesterday, buoyed by strong data and a brighter outlook for the global economy, as well as by easing regulatory concerns about euro zone banks. Financial stocks provided the biggest boost to...

  • Shipping movements

    These ships are expected in Malta: The BF Galaxy from Izmir to Piraeus, the Jork Valiant from Ambarli to Durres, the Saint Roch from Benghazi to Benghazi, the CMA CGM Titus from Port Said to Genoa, the CMA CGM Quartz from Damietta to Genoa (all...

  • NBM shareholders – the promised land

    NBM shareholders – the promised land

    How ironic the world seems to be at times. It was under a Labour government that this saga had its roots and it seems that it is under another Labour government that this wrong is to be put right. The Constitutional Court ruling of last week...

  • Softer payrolls data cast doubts over pace of tapering

    The US created 74k jobs in December, easing off the previous 241k jobs created last November, and the figure came short of the markets’ expectations that pointed towards a 200k reading. This was very much the highlight, that set the tone for much...

  • Japan and US outperform Europe

    Japan and US outperform Europe

    In last week’s article I reviewed the performance of the local equity market during 2013. Although Maltese equities generally performed positively with the MSE Share Index climbing by 14.75 per cent during the year, international markets...

  • Eurozone retail sales rebound but unemployment holds at record high

    Eurozone retail sales leapt in November even though unemployment remained at a record high, hinting at a pick-up in consumer demand that would ease deflation worries and relieve pressure on the ECB to loosen policy. Data yesterday showed the...

  • European share price pause, FTSEurofirst 300 index up by 0.1 %

    European stocks paused yesterday around five-and-a-half year highs, but rising confidence that peripheral euro zone economies are starting to recover from the region’s debt crisis helped markets there extend a rally. Trading volumes on Portugal’s...

  • Shipping movements

    These ships are expected in Malta: The CMA CGM Rossini from Le Havre to Port Said, the Fiona from Misurata to Algiers, the Erkan K from Durres to Avcilar (all Carmelo Caruana Ltd), the Eurocargo Venezia (Sullivan Maritime) from Genoa to Genoa and...

  • Analysing the Fimbank takeover bid

    On December 9, 2013, Fimbank announced that it had received a joint voluntary bid, from Burgan Bank (BB) and United Gulf Bank (UGB), with the intention of acquiring a controlling stake in the company. This is the latest step in a multi step...

  • Markets regain lustre but traders wait for NFP

    With the festive season be­hind us, it was back to business on the forex market on Monday. With very low volatility characterising markets over the past couple of weeks, we witnessed some interesting breakouts to reach new highs and lows. As...

  • 2013: The year of the IT companies

    2013: The year of the IT companies

    2013 turned out to be a very positive year for local equities with the local benchmark index registering its best annual performance since 2005. The MSE Share Index advanced by 14.75 per cent as the majority of the companies listed on the Malta...

  • Shipping movements

    These ships are expected in Malta: The Maersk Brooklyn from Izmir to Malaga (Thomas Smith & Co. Ltd) tomorrow. The Allegro from Tunis to Valencia and the Don Pascuale from Port Said to Genoa (both Thomas Smith & Co. Ltd) on Saturday. The Maersk...

  • The year 2014 and beyond

    The year 2014 and beyond

    The past 12 months have been a real rollercoaster ride for most investors; whether bond or equity investors or whether exposed to developed or emerging markets, the capital markets have been all over the place. Until the Federal Reserve pronounced...

  • Currency reflections as 2013 gives way to 2014

    As 2013 bows out, we all tend to reflect, look back on what the previous year has brought, or maybe, taken away from us. When it comes to investments it’s not much of a different story. In reality while many investors tend to underestimate the...

  • Maltapost’s dividend unchanged despite slight decline in profits

    Maltapost’s dividend unchanged despite slight decline in profits

    Maltapost plc published its September 2013 full-year results on December 6, revealing a revenue increase of 2.5 per cent to a record level of €21.6 million but a 5.4 per cent decline in pre-tax profits to €1.95 million. The slight decline in...

  • European shares rally before the US Fed decision

    European shares advanced yesterday, more than recouping the previous session’s losses, as investors positioned themselves for a US Federal Reserve decision on its monetary stimulus. Shares have been weakening over the past two weeks on concern the...

  • Shipping movements

    These ships are expected in Malta: The MV Eurocargo Malta from Genoa to Genoa (Sullivan Maritime) today. The Maersk Bintan from Izmir to Algeciras, the Seago Piraeus from Valencia to Piraeus (both Thomas Smith Shipping Ltd) tomorrow. The MV...

  • My name is Bond!

    My name is Bond!

    Almost 20 years ago, in September 1994, Gasan Finance Company plc launched the first private bond issue listed on the Malta Stock Exchange. It was a landmark issue in many ways, setting the pathway for a number of other issuers to follow, and at...

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