The Malta Stock Exchange index closed solidly higher yesterday, gaining more than 46 points, or just under 1.3 per cent, and closed at the 3,740.569 level on moderate volume of 75,570 shares across 39 deals.
Continuing from last week’s performance, HSBC Bank Malta plc shares rose another 7c, or 2.2 per cent yesterday, and closed the day at €3.270 on moderate volume of 16,360 shares across 14 deals. Bank of Valletta plc shares, trading their first day as an ex-bonus issue, fell €0.579 to compensate for the issuance of an extra share for every five held by shareholders, as stipulated by the bank in its 2010 annual results. The stock closed at €3.121 in seven deals for a total of 7,279 shares.
Still in the banking sector, Lombard Bank plc, finished unchanged at €2.780 in two deals for a total of 2,500 shares.
Giving positive performances on the day were the shares of International Hotel Investments plc and Maltapost plc. IHI stock gained 2c, or 2.2 per cent, to end the day at €0.920, while MaltaPost stock gained 1c, or one per cent, to close at €1.
Finishing in negative territory were the shares of Malta International Airport plc, which fell marginally, losing 1c, or 0.6 per cent, and finishing at €1.650 in a single deal of 1,400 shares.
Also closing lower was RS2 Software plc, which dropped 2c, or 4.2 per cent, to close at €0.460, also in a single deal, as 2,000 shares changed hands.
Other equities to trade during the session, yet close unchanged were Go plc and Middlesea Insurance plc which finished at €1.940 and €1.000 respectively.
The week ahead - Economic indicators for week starting January 10
In the United States, the Fed’s Beige book, which gathers information about current economic conditions will be published tomorrow. This is expected to confirm strong economic results for 2010.
Meanwhile, consumer prices are expected to have risen by an annual 1.3 per cent in December, up from their prior 1.1 per cent. Producer price inflation is also expected to rise by an annual 3.8 per cent last month from its previous 3.5 per cent a year earlier. Elsewhere, the US trade deficit is predicted to widen by $4.09 billion in November, up from its prior $38.7 billion a month earlier. Other economic indicators for the week will include retail sales, industrial production figures and the University of Michigan confidence indicator.
In the eurozone, the week will be dominated by the European Central Bank’s monthly monetary policy meeting. Consumer prices will also be published on this side of the Atlantic, and are expected to increase to a monthly 0.6 per cent in December from their prior 0.1 per cent a month earlier.
Meanwhile, the euro area trade surplus is predicted to have eased to €3.3 billion in November, down from the previous month’s €5.2 billion surplus. In a separate report, the eurozone’s industrial production is expected to increase by 5.9 per cent in November, down from a revised increase of 7.2 per cent in October.
In the United Kingdom, the week will feature the Bank of England’s monthly monetary meeting. Meanwhile, the UK’s trade deficit is expected to have shrunk to £3.8 billion in November from £3.9 billion a month earlier. Elsewhere, industrial production figures are expected to show that this has registered a monthly increase of 0.5 per cent in November, well above the 0.2 per cent drop experienced in October.
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.