US markets started the week higher and stretched to fresh all-time highs on Monday however a lack of progress towards the US-China trade agreement put a cap on gains. The Dow Jones Industrial Average gained 31.33 points, 0.1 percent, to 28,036.22, while the S&P 500 index crept up 1.57, or 0.05 percent, to 3,122.03. The Nasdaq Composite Index rose 9.11 points, or about 0.1 percent, to close the session at 8,549.94.
European markets hovered around the flat line after climbing for six straight weeks with the pan-European Stoxx 600 index edging up 0.05 percent to 406.25. Major bourses in Germany, France and the UK closed little changed whilst shares of the Spanish Stock Exchange operator, BME shot up nearly 38 percent after reports emerged of bids from Euronext and SIX to buy exchange.
Maltese markets meanwhile recovered from last week’s pressure and traded higher, with the MSE Equity Total Return Index closing up 0.26 percent at 9,873.573 points. Trident Estates Plc jumped 16 percent and led the gains with shares closing at €1.77. Bank of Valletta Plc also gained 2.3 percent and closed at €1.12. HSBC Bank Malta Plc meanwhile lost 2.3 percent to €1.27.
Boeing prepares for new orders
Boeing’s 737 MAX took center stage at the Dubai Airshow on Tuesday as the U.S. planemaker prepared to announce orders for dozens of aircraft as it seeks to restore confidence in the jet amid a worldwide grounding, people familiar with the matter said. The company is in the process of modifying software and pilot training which will require regulatory approvals.
Global regulators banned commercial flights of Boeing’s fastest-selling jet in March after two fatal accidents. The planemaker is expected to announce the orders, which could be worth $5-6 billion, a day after securing the first firm order for the aircraft since the grounding from Turkey’s SunExpress.
The fate of the order hinges on negotiations over the larger Boeing 777X for which Emirates is the largest customer. Emirates has indicted it wants to restructure the order following delays and sources say it could use the pending 787 deal as leverage.
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.