Investor digest

Investor digest

Discover the latest insights on local and foreign investment markets with our Investor digest, including expert commentary on market trends and developments.

The content is for informational purposes only and updated monthly.

USA

S&P500 ⬆️ 6.4%
NASDAQ ⬆️ 6.6%
DJIA ⬆️ 4.3%

Year to Date (YTD)

Commentary: Through the month of June, the US saw the approval of the Trump Bill which will seek to reduce taxes but will also be adding over $3 trillion to deficits over the next decade. The Federal Reserve maintained its monetary policy with a rate cut now likely through the September meeting amid sticky inflation and trade‐policy uncertainty. The Consumer Price Index was up by 2.4% in June, less than forecasted. The labour market strength continued, with US employers adding 147,000 jobs and unemployment dipping to 4.1 % in June. Equity markets shrugged off the policy noise: the S&P 500 is now up 5.5 percent YTD, while the 10-year Treasury yield has eased back to 4.23 percent. The tech-focused NASDAQ is up 6.6%.

Europe & UK

Eurostoxx 50 ⬆️ 9.3%
FTSE 100 ⬆️ 9.8%

Year to Date (YTD)

Commentary: The euro-area fiscal deficit is set to narrow to 2.8% of GDP in 2025, with public debt stabilising around 90% as the reformed EU fiscal framework prompts a contractionary stance next year. The ECB trimmed its deposit facility rate by 25 bps to 2.00%, keeping two additional cuts pencilled in for later this year but signalling no move before September amid slowing energy disinflation and US trade uncertainties. Euro-area headline inflation ticked up to 2.0% in June from 1.9% in May. The real GDP growth is projected to rise by 0.9% in 2025, rising to 1.1% in 2026 and 1.3% in 2027, as lower energy costs and subdued wage pressures offset a firmer euro and trade headwinds. Geopolitics and political uncertainties keep on playing a major role as the Trump administration lately threatened the bloc with a 30% tariff. Despite the policy backdrop, equity markets have shrugged off these headwinds: the Eurostoxx 50 is up by more than 9% YTD.

Malta

MALTEX ⬆️ 0.4%

Year to Date (YTD)

Commentary: According to the European Commission’s latest forecast, Malta’s economy will sustain growth after a GDP surge in 2024, expanding by 4.1% in 2025–26, driven by domestic demand and healthy net exports in tourism and services. Private and public consumption supported 2024’s upswing, boosted by a 23.1% jump in tourist spending and investment. Employment climbed strongly, with sustained rates expected in the next two years, keeping unemployment hovering around the low 3% mark. Fiscal deficits narrowed to 3.7% of GDP and are projected to fall to 3.2%, while debt to GDP is projected to stay below 48%. The MALTEX remained largely flat in spite of record positive numbers from Maltese listed equities.

Source: Bloomberg
Last update: 14 July 2025

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Approved and issued by APS Bank plc, APS Centre, Tower Street, B’Kara BKR 4012. APS Bank plc is regulated by the Malta Financial Services Authority to carry out Investment Services activities under the Investment Services Act 1994. This Information has been accurately reproduced and no facts have been omitted which would render the reproduced Information inaccurate or misleading. This information shall not be deemed as investment, tax, or any other form of professional advice.

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