The Malta Stock Exchange Index finished practically unchanged on Monday, shedding less than a single point, to close at 3,522.120 on moderate volume of 130,714 shares across 34 trades.
The single mover in the session was Go plc, which dropped marginally, losing 0c1, or 0.1 per cent, to close at €1.899 in a single deal of 5,000 shares. At the end of the session, the best unsatisfied bid stood at €1.850 for 2,000 shares while the best unsatisfied offer stood at €1.899 for a total of 5,000 shares.
FIMBank plc, one of the two most heavily traded stocks on the day, closed unchanged at $0.940 in three trades for a total of 50,000 shares. At the end of the session, the best unsatisfied bid stood at $0.920 for 5,339 shares while the best unsatisfied offer stood at €0.950 for a total of 4,500 shares.
The other equity to trade in heavy volume was International Hotel Investments plc, which also closed unchanged, ending the day at €0.770, in three trades for a total of 50,000 shares.
Bank of Valletta plc, which has climbed substantially so far in November after issuing its 2010 full year results, also finished unchanged, closing out the session at €3.700, in 16 trades for a total of 13,786 shares.
Shares in the other large retail banking firm, HSBC Bank Malta plc, also ended flat and closed at €2.980, on low volume of 6,053 shares across seven trades.
Lastly, Middlesea Insurance plc ended the day unchanged at €1.050, on four deals for a total of 5,675 shares.
The week ahead - Economic indicators for week starting November 22
In the United States, existing home sales are expected to drop in October, giving up some of the strength registered in September. In fact, sales jumped by 10 per cent in September, while last month sales are expected to have dropped by a monthly 1.1 per cent.
New home sales are predicted to increase by 2.4 per cent in October, which is less that the 6.6 per cent rise registered a month earlier. Elsewhere, durable goods orders are projected to register no change in October, after increasing by a revised reading of 3.5 per cent in September, while the University of Michigan confidence indicator is expected to register a modest rise this month.
In the eurozone, the headline Purchasing Managers’ Index (PMI) for the manufacturing sector is predicted to register a marginal decline in November, dropping to a reading of 54.4, from its prior 54.6 the previous month. While the data for the services sector is more sensitive to consumer demand, it is also expected to register a minor drop this month.
Meanwhile, industrial new orders are expected to drop by 2.5 per cent month-on-month in October, when during September there was a downwardly revised 5.1 per cent increase in orders. In Germany, the Ifo Business Climate Index for November is expected to remain close to highest levels registered in a period of over three years a month earlier.
In the United Kingdom, this week’s focus will be on the third quarter Gross Domestic Product (GDP) figures. During this period the economy is predicted to have expanded by a quarterly 0.8 per cent, unchanged from the increase registered during the second quarter.
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.