The Malta Stock Exchange index lost more than 10 points, or 0.3 per cent, on yesterday, to end the day at the 3,865.787 level. Trading in the equity market was moderate as 80,565 shares were traded across 51 deals.
Suffering the day’s worst performance were the shares of International Hotel Investments plc, which fell 2c, or 2.1 per cent, to close at €0.950 in a single trade of 10,000 shares.
Also closing lower were Maltapost plc shares, which opened the session one cent, or one per cent lower, and couldn’t manage to recuperate the loss by day’s end. The stock closed at €1.000 in five deals for a total of 10,242 shares.
Loqus Holdings plc stock, on the other hand, was the big mover in the session, gaining 1c1, or 7.3 per cent to close at €0.161, albeit in a single deal of 400 shares.
Bank of Valletta plc shares, after suffering two consecutive sessions of losses, reversed their fortune and gained one cent, or 0.3 per cent, to end the day at €3.110 in 25 deals for a total of 16,731 shares. The two other equities to trade in the session yet failed to register a change in their market prices were HSBC Bank Malta plc and Simonds Farsons Cisk plc, which finished at €3.500 and €1.800 on 40,100 shares and 3,092 shares, respectively.
Trading in the corporate bond market closed mainly lower as five of the 10 bonds to trade in the session closed lower while two ended higher.
The week ahead - Economic indicators for week starting January 31
In the United States, this week’s main attractions will be the release of the Institute for Supply Management (ISM) index and the employment report. The ISM index for the manufacturing sector is expected to hold at its high level.
Meanwhile, the labour market report on Friday is expected to show an increase of 130,000 in non-farm payrolls for January. However, according to the US Department of Labour, the poor weather conditions in January pushed new claims for unemployment benefits up by 51,000, which may have a negative impact on the labour market report.
On the other side of the Atlantic, the focus will centre on Thursday’s European Central Bank (ECB) meeting. The bank is expected to keep rates unchanged and to reiterate the stance that it will not react to temporary, oil price-induced increases in price levels.
Furthermore, EBC president Jean-Claude Trichet’s comments on the reform of the European Financial Stability Facility (EFSF) will also be of interest this week. Data for the Purchasing Managers Index figures also feature in the first week of February, giving a snapshot on the progress of the global recovery. After the release of the unemployment rate, this week also features data for retail sales, both for the last month of 2010. The latter is expected to have reversed the 0.5 per cent decline which was registered during the previous month.
In the United Kingdom, after the release of the manufacturing data today, the services figures on Thursday will also be closely watched. Other economic indicators this week also include the number of mortgage approvals, consumer credit figures of December and house prices as measured by Halifax for the first month of this year.
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.