Today’s article gives an overview of the Maltese, European and U.S. markets on Thursday, and the new digital ecosystem – the Volkswagen Automotive Cloud
The Maltese market closed in the green on Thursday, with MSE Equity Total Return Index ending the session 0.327% higher, to 9,142.793 points. Top gainer was HSBC Bank Malta plc adding 3.13% to close at 1.65, followed by GO plc and International Hotel Investments plc, adding 1.29% and 0.68% to close at 4.72 and 0.74 respectively. The biggest faller was Simonds Farsons Cisk plc which closed 2.86% lower, to 8.5, followed by BMIT Technologies plc which slid 0.96% to 0.515. Midi plc lost 0.77% to close at 0.645, while Bank of Valletta plc shed 0.39% to 1.265. Lombard Bank Malta plc, Mapfre Middlesea plc, PG plc and Malta International Airport closed unchanged.
Europe stocks logged losses on Thursday, as heavily weighted banks fell in reaction to a surprise move by the European Central Bank to push out the prospect of a first hike in interest rate even further, even as it launched a program of new, cheap loans to the banking sector. Stoxx Europe 600 shed 0.6% to 373.01. Germany’s DAX tumbled 0.9% to 11,476.79, with the U.K.’s FTSE 100 off 0.8% to 7,135.45 and France’s CAC 40 down 0.6% to 5,264.81.
U.S. Stocks finished lower for a fourth straight session on Thursday mounting evidence of a slowing global economy after the European Central Bank slashed its gross domestic product forecasts and pledged continued support for the flagging Eurozone economy. The Dow Jones Industrial Average fell 0.8%, to 25,473.23. The S&P 500 index dropped 0.8%, to 2,748.93, and the Nasdaq Composite Index shed 1.1%, to 7,421.46.
Volkswagen and Microsoft expand cloud partnership
Volkswagen and Microsoft have announced they are deepening their partnership on cloud computing solutions to bring connectivity to Volkswagen vehicles across the globe.
The Volkswagen Automotive Cloud is set to be available in Europe, China and the US, not coincidentally also the core markets for the future full-electric, fully connected ID model family. The first ID cars are expected to be delivered in 2020.
Drivers of equipped cars will have access to parking and charging information as well as various media streaming services.
With technology partners such as Microsoft, Volkswagen is developing the digital ecosystem for the connected mobility of the future. Heiko Hüttel of Volkswagen Automotive Cloud is convinced that Volkswagen will be able to use this to offer its customers an unbeatable range of services.