Maltese market closed in green on Friday, with MSE total index ending the session 0.302% higher to 9,504.238 points. Best performer was PG plc with 3.59% surge to close at 2.02, followed by 1.74% and 0.93% gains of RS2 Software plc and Simonds Farsons Cisk plc, with closing price 2.34 and 10.90 respectively. Biggest and only one fall was seen from Malta International Airport plc, it slid 0.72% to close at 6.90.
Stocks in Europe sliding lower again at the end of the week as the number of reported coronavirus cases in China continued climbing. The Continent's major stockmarket indices had begun the session higher, somewhat surprisingly on the back of the latest economic data out of China. By the end of trading, the German Dax was down 1.33% to 12,981.97, while the Cac-40 was 1.11% lower to 5,806.34.
US stocks closed sharply lower on Friday as investors continued to monitor and assess the potential economic impact of the fast-spreading Wuhan coronavirus. At the close, the Dow Jones Industrial Average was down 2.09% at 28,256.03, while the S&P 500 was 1.77% weaker at 3,225.22 and the Nasdaq Composite saw out the session 1.59% softer at 9,150.94.
Fears over the coronavirus triggered a sharp fall in Chinese shares when the market reopened after the Lunar New Year holiday
The Shanghai Composite index closed nearly 8% lower, its biggest daily drop for more than four years.
Manufacturing, materials, and consumer goods companies were among the hardest hit, while healthcare shares soared.
The fall came despite China's central bank announcing new measures to ease the impact of the outbreak.
The People's Bank of China (PBOC) unexpectedly lowered short term interest rates as part of its attempts to relieve pressure on the economy from the rapidly spreading virus.
It also pumped an extra 150 billion yuan ($22bn; £16.3bn) into the econom, a move aimed at ensuring there is enough liquidity in the banking system.
In total, the central bank will inject 1.2 trillion yuan into the financial system, the majority of which was already planned.
The PBOC said it could make more cash available throughout the week, as Chinese financial regulators forecast the impact on the country's already slowing economy will be "short term".
This article was issued by Nadiia Grech, Junior Trader at Calamatta Cuschieri. For more information visit, www.cc.com.mt. The information, view and opinions provided in this article are being provided solely for educational and informational purposes and should not be construed as investment advice, advice concerning particular investments or investment decisions, or tax or legal advice. Calamatta Cuschieri Investment Services Ltd has not verified and consequently neither warrants the accuracy nor the veracity of any information, views or opinions appearing on this website.