The Malta Stock Exchange index started the week with a 12 point gain yesterday, closing at the 3,313.735 level as investors sought to increase their holdings especially in shares of companies in the financial and tourism sectors. Trading was brisk as 128,095 shares across changed hands across 48 deals.
Putting in the day’s best performance was the stock of Bank of Valletta plc, which gained 4c, or 1.4 per cent, to close at €2.840 in 20 trades for a total of 11,500 shares. HSBC Bank Malta plc shares also witnessed action yesterday as turnover of 17,033 shares across 10 trades saw the bank’s stock close unchanged at €2.950.
Lombard Bank plc, meanwhile, closed marginally lower, shedding 0c6, or 0.2 per cent, and ended the session at €2.929 in a single deal of 954 shares. Middlesea Insurance plc was also higher at the close of trading, gaining one cent, or one per cent, to close at €0.990 in four deals for a total of 5,000 shares. Shares in the local telecommunications provider, Go plc, finished unchanged at €1.290 in two deals for a total of 2,800 shares.
International Hotel Investments plc shares traded with the day’s heaviest volume of 73,000 shares across five deals and also closed unchanged, ending at €0.700. Also traded in the session were the shares of Malta International Airport plc and RS2 Software plc, which both finished the day unchanged, closing at €1.650 and €0.500 respectively, on moderate volume of 8,208 shares and 9,600 shares, respectively.
The week ahead - Economic indicators for week starting May 9
In the United States, this week features numerous relevant economic data again. The indicator which will probably attract the most attention is the preliminary retail sales data for April on Thursday. Following the disappointing results in March, a mildly positive figure in April is expected as high oil prices continue to be a problem. Wednesday’s data will also feature interesting indicators in relation to a possible revision of the Gross Domestic Product (GDP) figure for the first quarter, with the release of the trade balance figures for March. An entire set of data on price developments in April will also be published this week. This starts, with import prices today, followed by producer prices and ends with consumer prices on Friday.
In the eurozone, the week will be completely dominated by the GDP figures for the first quarter of 2011. This is expected to show that growth in the region will be higher than potential during this quarter, but with massive differences from region to region. While economic growth in Germany, Austria, Belgium and The Netherlands was able to expand strongly, the economic indicators in Italy and Spain remained subdued. Industrial production figures for the month of March will also be released during the week.
In the United Kingdom, we will have the Bank of England’s quarterly inflation report on Wednesday. This is expected to offer insights on when the monetary policy committee will raise the cost of borrowing from historic lows. Finally, industrial production figures for March will be released on Thursday.
This article has been prepared by Bank of Valletta plc (the Bank), which is licensed to conduct investment services business by the MFSA, for your general information only. This information is not a solicitation or offer by the Bank to acquire or sell securities. Nor does it constitute any form of advice by the Bank. Appropriate advice should be obtained before making any such decision. Past performance is not necessarily a guide to future performance and the value of your investments may fall or rise.