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Market Analysis

  • Going down, next level zero!

    Last week the Governing Council of the ECB, led by Mario Draghi, decided to cut interest rates by 25 basis points to 0.25 per cent. At the press conference announcing this cut, Draghi referred to “diminishing price pressures in the euro area” and...

  • High-impact data drives EUR/USD lower

    Currency traders longing for moves to capitalise on must have welcomed the market moving data coming out of the world’s largest economy towards the end of last week. Last Thursday, the US published its annualised GDP figure for the third quarter...

  • BOV share price reaches five-and-a-half-year high

    BOV share price reaches five-and-a-half-year high

    The share price of Bank of Valletta plc has climbed by over 19.5 per cent so far during 2013, approach­ing its highest level in over five-and-a-half years. Few shareholders and market participants may realise this because of the price adjustments...

  • Wall Street climbs on strong economic data from Europek

    US stocks rose yesterday buoyed by strong economic data from Europe, while investors bought a flurry of new public offerings one day ahead of Twitter’s much-anticipated IPO. German industrial orders rose by more than expected, which is significant...

  • Shipping movements

    These ships are expected in Malta: The Jork Valiant from Leixoes, the CMA CGM Alabama from Mersin to Antalya, the Saint Roch from Benghazi to Benghazi, the CMA CGM Magellan frm Le Havre to Khor Fakkan (all Carmelo Caruana Ltd) and the MV Eurocargo...

  • Captain Mainwaring banking

    Bank of Valletta recently published their results for FY 2013. The locally quoted banks have sometimes struck some observers as being somewhat quaint, seemingly at odds with the more “progressive” and “sophisticated” banking models being developed...

  • Euro softens amid ECB easing speculation

    With investors focused on key macroeconomic data at the tail end of the week, volatility on currency markets was low at the start, with no major moves recorded on the major currency pairs. Last week, the euro was the biggest loser, falling...

  • 6th bond issue by Gasan Finance Company plc

    The last week of October proved to be a very hectic one for the investing public. Within the space of a few hours on Monday October 21, both International Hotel Investments plc and Gasan Finance Company plc announced details of their new bond issues.

  • Robust earnings keep European shares on a high

    Pan-European equities settled near five-year highs yesterday, supported by robust trading updates from carmaker Volkswagen and Norwegian conglomerate Orkla, among others. The pan-European FTSEurofirst 300 index initially rose 0.6 per cent to hit a...

  • Shipping movements

    These ships are expected in Malta: The Taurus J from Alexandria to Latakia, the DS Accuracy from Leixoes to Naples, the OS Bodrum to Skikda, the Fiona from Algiers to Skikda, the Oued Ziz from Tanger Med to Tunis, the CMA CGM Titus from Port Said...

  • Yet another acronym…AQR

    Yet another acronym…AQR

    The European Central Bank (ECB) recently announced the Asset Quality Review (AQR) programme which will commence shortly and is targeted to end by October 2014. The main scope of AQR is to assess the strength (or otherwise) of the significant...

  • Extended cheap money revives carry trades

    With the US largely recalibrating the timing of the unwind of its asset purchases based on the issues brought about by the recent government shutdown and the debt ceiling debate, it looks like the markets shall continue to enjoy cheap money at...

  • Farsons half-year results

    Farsons half-year results

    The Farsons Group results for the first half of their 2013/14 financial year covering the six-month period between February 1and July 3, 2013 shows a marginal improvement in revenue and profitability to €40.7 million and €3.8 million...

  • Bank slide halts winning run for European stocks

    European shares snapped a nine-day winning streak yesterday, hit by plans for a new, tougher stress test for euro zone banks, as well as by a crop of weak earnings numbers and forecast downgrades in other sectors. The STOXX Europe 600 Banks index...

  • Shipping movements

    These ships are expected in Malta: The MV Eurocargo Malta from Genoa to Genoa (Sullivan Maritime), the CMA CGM Laperouse from Le Havre to Khor Al Fakkan, the Jork Valiant from Leixoes to Naples, the Tyrusland from Tripoli to Tripoli, the OS Bodrum...

  • The ‘bright’ side of the US shutdown

    The ‘bright’ side of the US shutdown

    On October 16 an agreement was reached by the US Senate and Congress that should allow for the funding of the government until January 15, 2014, and the extension of the country’s borrowing authority through February 7, 2014. The US fiscal crisis...

  • Job growth slows in US, delays scope for Fed tapering

    The United States government bought itself more time after lawmakers in Washington struck an 11th hour deal to lift the debt ceiling and end a 16-day partial shutdown of the Federal government. In the end the deal averted what might have been a...

  • Excess liquidity in the local financial market

    Excess liquidity in the local financial market

    The extraordinary demand for the recent Medserv plc bond issue – amounting to over €55 million across more than 3,800 applicants during the public offering – is once again indicative of the excess liquidity within the local financial...

  • Britain’s FTSE 100 rallies on US deal

    Expectations of an imminent deal in Washington to avert a US debt default sparked a late turnaround on Britain’s top share index yesterday. London’s blue chip index rallied off a session low of 6,504.27 to close up 22.48 points, or 0.3 per cent at...

  • Shipping movements

    These ships are expected in Malta: The DS Accuracy from Leixoes to Naples, the Taurus J to Latakia (both Carmelo Caruana Ltd), the Pelleas from Port Said to Genoa (Thomas Smith Shipping Ltd) and the MV Eurocargo Venezia from Genoa to Genoa...

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