Markets end week lower

US markets ended the week lower on Friday as another volatile session battered stocks. The Dow Jones Industrial Average fell 913.21 points, or 4.6 percent, to 19,173.98 while the S&P 500 index dropped 104.47 points or 4.3 percent, at 2,304.92. The Nasdaq Composite Index lost 271 points, or 3.8 percent, to close the session at 6,879.52.

European markets meanwhile ended higher, as investors placed their faith into the stimulus moves from central banks and governments to fight the economic fallout from the coronavirus pandemic. The pan-European Stoxx Europe 600 index gained 2 percent to 293.33 with Germany’s DAX and France’s CAC 40 indexes rising 3.7 percent and 5.2 percent respectively. The UK’s FTSE 100 index added 1 percent.

Maltese markets also closed lower with the MSE Equity Total Return Index moving down 1.86 percent to 7,905.795. Malta International Airport Plc led the losses with shares down 10.67 percent at €4.02, followed by Trident Estates Plc which lost 8.09 percent to €1.25. BMIT Technologies Plc meanwhile added 2% to close up at €0.51.

Toyota looks at hydrogen power

Japan’s Toyota Motor Corp announced it would develop a heavy-duty fuel-cell truck with its subsidiary, Hino Motor Co, as it sees hydrogen technology as a zero-emissions alternative to battery power for large commercial vehicles.

Toyota has long looked at hydrogen fuel cell vehicles as the ultimate “green car”, and sees the technology as more efficient than battery electric cars, embraced by many rivals as a zero-emissions alternative to gasoline vehicles.

In a statement, Toyota said the truck, based on Hino’s Profia model, would be equipped with two fuel cell stacks developed for the next model of its Mirai fuel cell sedan. It would have a travelling range of 600 kilometres.

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.