Maltacom shares registered their fifth consecutive session of gains following last week's publication of its full year results for 2006, and the telecommunication company pushed the MSE Index higher by 0.24 per cent to 4830.85 points.
Positive sentiment on Maltacom shares was accentuated yesterday, with 22,515 shares being purchased across 13 transactions thereby helping the equity carry on its five-day streak of gains, with the closing price moving higher by 1c or 0.68 per cent, to Lm1.48. At the end of the session, the best bid stood for 990 shares at Lm1.452, while a further 4,845 shares remained unfilled on the offer side at Lm1.48.
The equity is still trading with the right to receive a final net dividend of 5c per share. HSBC Bank Malta too left a positive mark on the benchmark, as the largest traded company by market value gained nine tenths of a cent to close the session at the Lm1.88 level. The day's activity consisted in 8,615 shares which were exchanged across 13 transactions.
Bank of Valletta closed the session with a slight negative bias, as the equity shed one tenth of a cent to close at Lm3.599. Trading was relatively muted with barely 1,270 shares changing hands across five deals. When the session terminated, a further 435 shares were on the offer side at Lm3.599, against a demand of 1,500 shares at Lm3.57.
Elsewhere in the regular market, a single trade of 700 shares in Malta International Airport shares had no impact on the equity's previous closing price of Lm1.36.
Japanese stocks positive thanks to US job figures
Japanese stocks rose strongly yesterday, boosted by Friday's strong US jobs numbers. The job figures increased hopes for the global economy. It also increased the dollar's value against the yen, boosting exporters. The Nikkei 225 was up 1.5 per cent. The broader Topix rose 1.2 per cent.
Shipping companies gained in particular from yen weakness, which boosts repatriated earnings. Shipping shares have also picked up on the back of confidence about the global economy, which creates the prospect of higher volumes of international trade.
US stock-index futures advanced after employers added more jobs than analysts forecast last month and a newspaper said Dow Chemical Co. may become the largest leveraged buyout target ever.
The Labour Department said on April 6 that 180,000 new jobs were created in March and the unemployment rate unexpectedly fell. US stock exchanges have been closed during the three days since the data were published.
The increase in March payrolls followed a 113,000 gain in February. Economists predicted 130,000 jobs would be added last month, according to the median estimate in a Bloomberg survey. The jobless rate fell to 4.4 per cent, matching a five-year low.
The financial news was compiled by Valletta Fund Management (Tel. 8007 2344) and Bank of Valletta plc (Tel. 2131 2020). BOV and VFM are licensed by the MFSA to conduct investment services business.