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Justin Trudeau wins second term in Canada election

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Market summary:

Maltese market closed in green on Tuesday, with MSE total index ending the session 0.479% higher to 9,780.095 points. Best performer was GO plc by adding 5.34% to close at 4.34, followed by PG plc and HSBC Bank Malta plc. Both rose 1.08% and 0.80% to close at 1.87 and 1.26 respectively. Biggest fall of 0.93% was seen from BMIT Technologies plc, closing at 0.53. Followed by 0.67% shed of Malta International Airport plc with closing price of 7.40.

European stocks were higher on Tuesday and trading near their best level in a year as investors digested positive Sino-US trade developments and awaited another Brexit parliamentary showdown in London. By the end of trading, the Stoxx 600 was 0.09% higher at 394.59, as Germany’s Dax rose by 0.05% to 12,754.69 and the French CAC 40 was up by 0.17% to 5,657.69. In parallel, London’s FTSE 100 had climbed 0.68% to 7,212.49.

U.S. stocks closed lower Tuesday as investors digested a torrent of corporate earnings reports and a new bill to make it easier for social media users to migrate away from industry heavyweights Facebook, Snap and Twitter to rival platforms. The S&P 500 index fell 0.36%, to 2,995.99. The Nasdaq Composite Index shed 0.72%, to 8,104.30. The Dow Jones Industrial Average lost 0.15%, to 26,788.10, on the back of worse-than-expected third-quarter results from McDonald’s and Traveler Cos.

Justin Trudeau wins second term in hard-fought Canada election:

Justin Trudeau was on course to win a second term as Canada’s prime minister in an election seen as a referendum on the Liberal leader and his four-year-old government after a series of scandals.

After polls closed, Canadian broadcasters CTV and CBC declared a Liberal minority government, in 2015, Trudeau was the "change" candidate, backed by Canadians who were tired of nearly a decade of Conservative rule. But in the last year, he has been dogged by scandals that chipped away at his credibility, including revelations he once wore blackface.

Canada’s parliament has 338 seats, and the party that wins the majority of those seats – 170 or more – automatically forms the government and can easily pass legislation. If no party wins a majority, the parties must team up.

It is unclear which party the Liberals would join forces with to govern, with negotiations set to take place over the coming days. which means Trudeau will have to work with other parties in order to govern.

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.