The Malta Stock Exchange shed another 10 points, or 0.3 per cent yesterday, to close at 3,572.871 as stocks finished mixed.
Loqus Holdings plc shares slumped by 0c8, or 4.7 per cent, to close at €0.162 under a single trade of 2,694. At the end of the day, Loqus released its interim directors’ statement whereby it noted that for the period from July 1, 2010 to date, there had been no significant change in the company’s financial position. It also noted that work on the Fisheries Information Solution contract, which was awarded to the company in December, had commenced during the period while the company remained focused on reducing costs and returning positive results.
Bank of Valletta plc stock also traded lower on the day, dropping 5c, or 1.7 per cent, to close at €2.920, in 20 trades for a total of 38,527 shares.
HSBC Bank Malta plc stock, meanwhile, closed unchanged at €2.950, on robust volume of 65,874 shares across 15 trades.
Closing in positive territory were the shares of Malta International Airport plc, which added 3c5, or 2.1 per cent, to end the session at €1.735 in relatively light volume of 9,680 shares across five deals.
Also closing higher were Go plc shares, which added 1c, or 0.6 per cent, and finished at €1.770, in three deals for a total of 8,000 shares.
Island Hotels Group Holdings plc, the only other equity to trade in the session, finished at €0.997 in two dealings for a total of 1,000 shares.
The UK Purchasing Managers Index for the manufacturing sector in the month of January rose to a level of 61.5, unchanged from a downwardly revised figure of 61.5 in December. Meanwhile, the PMI for the construction industry rose to 56.5, considerably higher than the 53.7 registered for the month of December and came in as the fastest pace in eight months.
The rise comes on the heels of a contraction in UK construction in the fourth quarter of 2010, and helped push the pound to recent highs against the dollar. The contraction in the UK economy in the fourth quarter, partly due to extreme weather conditions in December, was viewed as one of the primary reasons why the Bank of England refused to raise rates at its last meeting.
Consumer Credit, meanwhile, contracted at its fastest pace in over a year as consumer’s appetite for taking on new borrowing remains limited. Credit to consumers shrank by £0.3 billion sterling in January versus a £0.8 billion increase in December over November.
The UK’s M4 money supply numbers were further indicative of the lack of lending and credit activity. Year-on-year numbers for M4 decreased by 1.7 per cent for the month on January, representing the fastest annual contraction in M4 since the series began in 1983.
Weekly UK economic review
The UK Purchasing Managers Index for the manufacturing sector in the month of January rose to a level of 61.5, unchanged from a downwardly revised figure of 61.5 in December. Meanwhile, the PMI for the construction industry rose to 56.5, considerably higher than the 53.7 registered for the month of December and came in as the fastest pace in eight months.
The rise comes on the heels of a contraction in UK construction in the fourth quarter of 2010, and helped push the pound to recent highs against the dollar. The contraction in the UK economy in the fourth quarter, partly due to extreme weather conditions in December, was viewed as one of the primary reasons why the Bank of England refused to raise rates at its last meeting.
Consumer Credit, meanwhile, contracted at its fastest pace in over a year as consumer’s appetite for taking on new borrowing remains limited. Credit to consumers shrank by £0.3 billion sterling in January versus a £0.8 billion increase in December over November.
The UK’s M4 money supply numbers were further indicative of the lack of lending and credit activity. Year-on-year numbers for M4 decreased by 1.7 per cent for the month on January, representing the fastest annual contraction in M4 since the series began in 1983.
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.