Financial News
More gains for HSBC
During yesterday's trading session at the Malta Stock Exchange, investors returned to the market to purchase HSBC shares, before today's record date, to avail of the right to receive the recently declared interim and special dividend payment.
Just a few shares shy of 30,000 were traded in HSBC Bank Malta which were spread across 35 deals and saw the share price close better by 5c or 0.8 per cent at the Lm5.80c level.
Datatrak Holdings were the day's top gainer as 10,500 shares, carrying a market consideration of Lm2,016, were transacted across three trades at Lm0.19c2. This represents a 6.7 per cent premium to Wednesday's closing price.
Among the larger capitalised stocks, 8,000 Maltacom shares brought minimal gains to the price, which closed at Lm1.38c3. Meanwhile, Malta International Airport kept the momentum going even though the day's trade amounted to just 1,000 shares, swapped among two investors at the Lm1.34c8 level.
Bank of Valletta shares were the only declines of the day, as the price dropped 4c or 0.8 per cent to close at Lm5.09c.
In the fixed interest sector of the market, activity was relatively muted with just a single corporate bond and six government stocks attracting trades.
The 5.00 MGS 2021 (I) declined 25 ticks to trade at Lm103.50 while its sister bond, the fungible Tranche B issue, maintained its previous level of Lm104.50.
Amazon leads Dow's forward progress
Overnight in New York, Wall Street markets were lifted by strong earnings news from Boeing and Amazon. The Dow Jones Industrial Average finished 0.5 per cent higher at 10,637.1, an increase exactly matched by the Nasdaq Composite which closed at 2,186.3. Tokyo shares rose yesterday, lifted by continued demand in the steel and metal sectors and strong performances by major banks. The quarterly reporting season also continues to dominate sentiment on individual stocks.
European stock markets hit a three-year high yesterday amid a host of corporate earnings figures with carmaker DaimlerChrysler and French telecoms equipment maker Alcatel the star performers. The FTSE Eurofirst 300 rose 0.4 per cent to 1,178.96 by midday, France's CAC-40 put on 0.7 per cent to 4,464.19 and Germany's Xetra Dax climbed 0.6 per cent to 4,881.98.
London equities markets moved higher yesterday, propelled by a torrent of corporate news as earnings season peaked with 11 blue chip companies making significant announcements. The FTSE 100 was 12.2 points or 0.2 per cent higher at 5,275.5 in early afternoon trading while the mid cap FTSE 250 was up 31.7 points or 0.4 per cent at 7,586.0.
The benchmark Nikkei 225 Index rose 0.20 per cent to 11,858.31, and the broader Topix average was 0.23 per cent higher at 1,201.72. Iron and other metal stocks were broadly higher for the second consecutive day, with investors expecting rising exports to China following the upward revaluation of the renminbi last week.