US markets edged lower on Tuesday as President Donald Trump ramped up pressure on China to quickly reach a trade deal, diminishing hopes for swift resolution to the ongoing trade dispute between the world’s two largest economies. The Dow Jones Industrial Average retreated 23.33 points, or 0.1 percent, at 27,198.02, while the S&P 500 index slipped 7.79 points, or 0.3 percent, to 3,013.18. The Nasdaq Composite Index edged down 19.71 points to close the session at 8,273.61.
European markets mostly retreated as weak reports from German giants Bayer and Lufthansa were unable to offset gains from the UK and weighed on the region’s bourses. The pan-European STOXX 600 index sank 0.4 percent with the biggest losses coming from the travel and leisure sector. Germany’s DAX moved 0.5 percent lower whilst France’s CAC 40 slipped 0.2 percent. The UK’s FTSE 100 index outperformed its peers as a weak pound drove the country’s equities to 11-month highs.
Maltese markets moved higher with the MSE Equity Total Return Index closing up 0.11 percent at 9,830.009 points. The biggest gain was seen from Simonds Farsons Cisk plc with shares closing up 2 percent at €10.20, followed by Midi Plc which gained 1.56 percent to close at €0.65. Malta International Airport meanwhile lost 1.94 percent as its shares closed the session at €7.60.
Airbus stronger than expected results
French plane-maker Airbus posted stronger-than-expected core second-quarter earnings on Wednesday, led by the switch to efficient new single-aisle jets, and maintained its profit forecast for the year while warning of delivery challenges in the second half. “The second half of the year in terms of deliveries and in particular free cash flow continues to be challenging,” Chief Executive Guillaume Faury said in a statement.
Airbus is trying to overcome industrial delays at a newly expanded plant in Hamburg, Germany, which is responsible for enhanced cabins for the in-demand A321neo, the largest version of the planemaker’s best-selling single-aisle family.
Airbus is nonetheless on course to be the world’s largest planemaker in 2019 as U.S. rival Boeing faces a longer-than-expected grounding of its 737 MAX, ordered by worldwide regulators in March in the wake of two fatal accidents.
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.