Today’s article gives an overview of the Maltese, European and U.S. markets on Wednesday, together with latest news about leading Japanese telecommunications company.
The Maltese market closed in the green on Wednesday, with MSE Equity Total Return Index ending the session 0.033% higher, to 9,803.816 points. Best and only one performer was GO plc, by adding 1.40% to close at 4.36. Biggest fall was seen from Global Capital, it shed 16.67% to close at 0.25. Followed by Malita Investment plc and Lombard Bank Malta plc, which fell 1.75% and 1.74% to close at 0.84 and 2.26 respectively. Malta Post plc also closed in negative, it dropped 1.52% to 1.13. Bank of Valletta plc and HSBC Bank Malta plc together with Malta International Airport plc and BMIT Technologies plc were active but closed unchanged.
European shares slid on Wednesday as Chinese newspapers warned it could squeeze its supply of rare earth elements to hit the United States, sending jitters through the markets and prompting investors to flee for safer ground. The pan-European STOXX 600 index tumbled 1.4% to a more than three-month closing low, with each sub-sector falling. Frankfurt’s trade-sensitive DAX fell 1.6% to its lowest close in nearly two months. French stocks shed 1.7%, while their London-traded peers fell 1.2%.
Wall Street shares have ended lower, as investors continued to worry about the effects a prolonged US-China trade war would have on global economic growth. At the closing bell, the Dow Jones Industrial Average dipped 0.87%, to 25,126.41, the S&P 500 declined 0.69%, to 2,783.02 and the Nasdaq Composite fell 0.79%, to 7,547.31.
Japanese telco goes with Swedish and Finnish equipment manufacturers.
Japanese mobile carrier SoftBank has named Nokia and Ericsson as flagship equipment providers for its 5G deployment in a fresh blow to China’s Huawei. Softbank’s decision to choose the two Scandinavian companies as “primary partners”, despite conducting earlier tests with the Chinese provider, comes as a further hit to Huawei, which has come under increasing pressure globally over security concerns related to its equipment.
The US in particular has argued use of the Chinese telecoms company could jeopardise the security of the next generation of mobile internet communications — giving Beijing the ability to interfere with, or spy on, mobile networks.
Softbank’s choice, which was revealed in separate announcements by Nokia and Ericsson on Wednesday, mirrors its earlier decision to replace Huawei equipment in its 4G telecoms infrastructure with Ericsson and Nokia hardware last December.
Huawei has moved center stage in the trade dispute between the US and China, after the Trump administration has sought to commercially isolate the group by placing it on an export blacklist.
This article was issued by Nadiia Grech, Junior 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