The Malta Stock Exchange Index gained less than a point yesterday, to close at 3,396.397 on light volume of 58,496 shares across 25 deals. Stocks finished mostly lower as four of the seven equities to trade yesterday closed lower while a single issue closed higher, allowing the index to finish in positive territory.
Bank of Valletta plc ended the session marginally lower, shedding 0c1, or less than 0.1 per cent, to close at €2.809 in five deals for a total of 8,451 shares.
HSBC Bank Malta plc added a marginal 0c5, or 0.2 per cent, to finish at €2.985 in eight deals for a total 11,850 shares.
FIMBank plc shares, meanwhile, closed unchanged at €0.850 on volume of 9,279 shares across four deals.
Also in the financial services sector, Middlesea Insurance plc fell 0c1, or 0.1 per cent, in a single deal of 500 shares.
Shares of the local airport operator, Malta International Airport plc dropped 1c, or 0.6 per cent, to end the day at €1.710 on volume of 7,416 shares across four deals. Shares of the local software company RS2 Software plc fell 0c1, or 0.2 per cent, to end the day at €0.499 in a single deal of 18,000 shares. Also trading in the session, yet closing unchanged, was the stock of the telecommunications provider Go plc, which rounded out trading at €1.360 in two deals for a total of 3,000 shares.
This article has been prepared by Bank of Valletta p.l.c. (the Bank) for your general information only and is not intended to address your particular requirements. This information is not a solicitation or offer by the Bank to acquire or sell securities. Nor does it constitute any form of advice or recommendation by the Bank. Appropriate independent advice should be obtained before making any such decision. The price of investments can go down as well as up, and investors may not get back the amount they invested. Past performance is not necessarily a guide to future performance.
Weekly eurozone Economic Review
Growth in the eurozone’s services sector slowed faster than expected this month while manufacturing also grew at a slower pace in May than many market participants were expecting. The Purchasing Managers’ Index surveys released on Monday showed that output from the services industry in the 17-nation region slowed to a level of 55.4 versus 56.7 in April. Market participants were expecting growth to slow only marginally, to 56.5 for the month as activity in Germany and France remained buoyant. May’s figure is the lowest level since last December yet is the 21st month the index has been above the 50 level mark, which determines whether the sector is growing or contracting. The manufacturing sector, meanwhile, expanded by 54.8, versus 58.0 in April, which was much lower than consensus expectations of 57.5. The eurozone composite PMI, a broader measure of the private sector which combines the services and manufacturing data, fell to 55.4 from 57.8, below economists forecasts of 57.3.
Industrial new orders, meanwhile, fell more than expected in March, a sign that manufacturing activity could be feeling the affects of public sector cutbacks and higher inflation. Data released yesterday indicated that orders in the 17 nations using the euro fell by 1.8 per cent for the month, versus a 0.9 per cent increase in February over January. Yet despite March’s decrease, year-on-year figures indicated that orders actually increased by 14.1 per cent, considerably higher than the 12.9 per cent market participants were expecting.
This article has been prepared by Bank of Valletta p.l.c. (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.