Maltese market closed in green on Thursday, with MSE total index ending the session 0.395% higher to 9,749.276 points. Best performer was Malta International Airport plc by jumping 3.47% to close at 7.45. Biggest fall of 2.67% was seen from Tigne Mall plc, closing at 0.91. Bank of Valletta plc, Go plc, RS2 Software plc, Midi plc, Santumas Shareholdings plc and BMIT Technologies plc were active but all closed unchanged.
European stocks finished lower on Thursday, quickly giving back early gains triggered by news that the UK and the EU has finally agreed upon a Brexit deal. By the end of trading, the Stoxx 600 had fallen 0.1% to 393.08, Germany’s Dax was down 0.12% at 12,654.95 and the French CAC 40 lower by 0.42% to 5,673.07. Meanwhile, London’s FTSE 100 rose by 0.2% to 7,182.32.
Wall Street advanced on Thursday as investor sentiment was buoyed by a string of corporate earnings beats and encouraging geopolitical developments. A broad-based rally led all three major U.S. stock averages to moderate gains. The Dow Jones Industrial Average rose 0.09%, to 27,026.16, the S&P 500 gained 0.28%, to 2,997.97 and the Nasdaq Composite added 0.4%, to 8,156.85.
UK and EU strike new Brexit deal in last-ditch talks.
Negotiators from the U.K. and EU reached a draft Brexit deal in 11th-hour talks Thursday, although there are serious doubts that the agreement will be approved by U.K. lawmakers back in Westminster.
Sterling rose on news after the U.K. made concessions over the Irish border, an issue that had proven to be the biggest obstacle to a deal. The pound was 0.8% higher against the dollar, at $1.2929, reaching a five-month high but soon trimmed those gains as opposition parties in the U.K voiced their concerns.
The “Withdrawal Agreement” was also approved by EU leaders at their summit on Thursday, but it still needs to pass U.K. lawmakers at the weekend. The EU Parliament will also have to ratify the deal at an as yet unspecified date.
Speaking after the deal was announced, Michel Barnier, the EU’s chief Brexit negotiator, said that Northern Ireland will remain part of the U.K.’s customs territory and would be the entry point into the EU’s single market. He said there would be no regulatory or customs checks at the border between the Republic of Ireland and Northern Ireland (a part of the U.K.). That removed what had been a key issue for both sides. He added that Northern Ireland would remain aligned to some EU rules, notably related to goods.
This article was issued by Nadiia Grech, Junior Trader at Calamatta Cuschieri. For more information visit, https://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.