US stocks recovered from earlier losses and ended mixed on Thursday as investors dug into the latest round of corporate earnings and expressed relief from a World Health Organization decision not to declare China’s coronavirus outbreak as a global emergency. The Dow Jones Industrial Average slipped 26.18 points, or 0.1 percent, to 29,160.09 whilst the S&P 500 index edged up 3.79 points or 0.1 percent to 3,325.50. The Nasdaq Composite Index reversed track to gain 18.71 points or 0.2 percent, closing the session in record territory at 9,402.48.
European markets meanwhile fell as investors backed away from riskier assets after the European Central Bank left key monetary policy unchanged as expected. The pan-European Stoxx 600 index fell 0.6 percent to 420.29 with Germany’s DAX losing 0.7 percent to 13,417.74. The UK’s FTSE 100 and France’s CAC 40 both lost 0.4 percent in the session.
Maltese markets also slipped with the MSE Equity Total Return Index closing down 0.63 percent at 9,429.986. RS2 Software Plc led the losses with shares down 2.63 percent at €2.22, followed by Bank of Valletta Plc which ended down 2.27 percent at €1.075. PG plc was the only equity to post gains as its shared rose 1.58 percent to €1.93.
Intel jumps as sales beat estimates
Shares of Intel Corp. jumped as much as 7 percent in after-hours trading on Thursday after the chip-maker’s data-center sales crushed Wall Street estimates Thursday, pushing quarterly revenue passed the $20 billion mark for the first time. The company said it expects adjusted earnings of $1.30 a share on revenue of about $19 billion for the first quarter, and $5 a share on revenue of about $73.5 billion in 2020.
While the appetite for data and processing resources is “insatiable” and Chief Executive Bob Swan “very good about how we’re positioned to capitalize on this increased demand,”. Intel also said its board hiked the annual dividend 5% to $1.32 a share, which will start being payable as a quarterly dividend of 33 cents a share on March 1 to shareholders of record as of February 7.
This article was issued by Peter Petrov, 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.