The Malta Stock Exchange Index was marginally up yesterday, gaining a mere point to end the day at 3,874.227 points. Trading was moderate at 95,712 shares which were executed across 47 deals.

Shares in Lombard Bank Malta plc ended the day in negative territory, falling by a hefty 15c or 5.5 per cent. The shares immediately lost 10c at the open and continued to drift downwards to close at €2.60. This took place amid relatively light volume of 3,780 shares across five trades. Still in the financial services sector, shares in the two local retail banks ended mixed, with shares in HSBC Bank Malta plc putting on 2c, or 0.6 per cent, to end the day at €3.53. Trading volume in this equity was moderate with 24,975 changing hands across 14 deals. Share in Bank of Valletta plc, on the other hand, suffered a marginal decline of 0.5c, or 0.2 per cent, to end the day at €3.14 in light volume.

The best performer of the day was the local airport operator, Malta International Airport plc, which traded 1.1 per cent higher to close at €1.83. Maltapost plc also put in a good performance by adding one per cent to finish at €1.01.

In the corporate bond market, three of the eight bonds to trade ended higher, three remained unchanged whereas two traded lower. The best performer of the day was 6.25% International Hotel Investments 2017-2020 which gained €0.23, or 0.22 per cent, to finish at €103.50.

Weekly Eurozone Economic Review

In the eurozone, the Composite Purchasing Managers’ Index (PMI), which is a survey based on the services and manufacturing industries, rose by more than expected to 56.3 in January, the highest level in six months from 55.5 the previous month. This gain was mainly led by increases in the services index as the index rose to 55.2 in January from 54.2 in December, beating expectations of 54.3. However, the index showed that the peripheral countries such as Ireland and Spain are showing few signs of catching up with their biggest peers in Germany and France. However, the PMI for the manufacturing sector dropped to 56.9 in January, from 57.1 level of the previous month. This was also lower than the 57.0 expected by various economists.

Also in the manufacturing sector, the number of new industrial orders during November exceeded economists’ forecasts, mainly led by gains in Germany, the region’s largest economy. Industrial orders increased by 2.1 per cent in November, from the previous month when they increased by 1.4 per cent. Orders increased by 20 per cent in November when compared with the same month last year. In Germany, the region’s largest economy, orders rose by 5.3 per cent from October, when they climbed by 1.4 per cent.

Finally, output, in the construction sector more than reversed the 0.3 per cent of the previous month during November as they declined by 0.9 per cent. This was mainly driven by a contraction in Germany’s and France’s construction sector as these declined by 1.1 and 1.3 per cent respectively from October.

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.