Back
Register for SMS Alerts
or enter your details manually below...
First Name:
Last Name:
Email:
Password:
Hometown:
Birthday:
Sorry, we couldn't find that email.
Existing users
Email
Password
Sorry, we couldn't find those details.
Enter Email
Sorry, we couldn't find that email.

Markets return to gains | Calamatta Cuschieri

Rallying markets, demand for the iPhone X, and Alibaba’s fund-raising

calamatta_cuschieri
Calamatta Cuschieri
1 November 2017, 11:47am
The iPhone X, which starts at $999, is officially available Friday, the day after Apple reports earnings
The iPhone X, which starts at $999, is officially available Friday, the day after Apple reports earnings
U.S. stocks finished off the best month since February and the dollar strengthened as investors assessed the signals for tax cuts and the next Federal Reserve chairman. The euro slipped as data showed inflation unexpectedly slowed in the region. The S&P 500 Index finished October with a gain of more than 2% and the Dow Jones Industrial Average added nearly 1,000 points in the period, spurred by strong economic data.

UK markets ended slightly higher on Tuesday, underperforming the major European markets as the pound rallied on hopes for progress in the divorce talks between London and Brussels. A decline in Burberry Group PLC shares after a key executive’s departure also weighed in on the blue chip stock index. The FTSE 100 index closed 0.1% higher at 7,493.08, extending its monthly gain to 1.6%.

 

iPhone X drives Apple into the future

Apple Inc. shares traded at a record Tuesday, after generally positive iPhone X reviews, which noted that the new iPhone made a huge bet on a paradigm shift in technology that could lead to a rough first draft, but offers a glimpse of the future of smartphones. The iPhone X, which starts at $999, is officially available Friday, the day after Apple reports earnings. Reviewers noted a few glitches here and there, but generally regarded the iPhone X as the beginning of what we’ll be seeing in smartphones for the next 10 years.

Reports that demand for the smartphone may outstrip supply because manufacturing and supply-chain issues haven’t seemed to deter investors. Apple shares finished up 1.4% to $169.04 Tuesday after touching an all-time high of $169.65 earlier in the session. Shares finished at a second straight all-time closing high, after closing at a record of $166.72 Monday, and have gained nearly 46% this year amid a 15% rise for the S&P 500 index.

 

Funding by Alibaba

SouChe.com, a Chinese car trading site, raised $335 million in a funding round led by Alibaba Group Holding Ltd. as it expands in auto-financing, and prepares for a potential U.S. IPO. Alibaba will become the biggest backer of the site and integrate parts of the business with its own e-commerce services. The new funding round valued the company at between $1 billion and $2 billion.

Shares of Chinese e-commerce giant Alibaba Group Holding Ltd. are on the war path in 2017, up more than 100% since the beginning of the year, as investors have rewarded Alibaba and its executives for making big gains in e-commerce. Various analysts estimate that the company’s China retail will grow 58%, according to a note sent to clients Tuesday. Overall online retail sales growth is accelerating 34.2%, up from 33.4% in the first half of 2017.

 

 

Disclaimer

This article was issued by Linda De Luca, Trader at Calamatta Cuschieri. For more information visit, www.cc.com.mt. The information, view and opinions provided in this article is 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.

calamatta_cuschieri
Calamatta Cuschieri is one of Malta’s largest financial services firms. The company offe...
DealToday
Latest Business News
Business Comment 21-11
U.S tax reform, gold becoming a way of payment and a deal between Volvo and Uber
Technology 21-11
According to statistics published by the social media giant, Maltese authorities made the highest number of requests for user information in...
Business Comment 20-11
Major earnings releases, Thanksgiving celebration, Saudi energy fund-raising and market overview 
Business Comment 17-11
Recovered markets, surprises from Tesla and uncertainty for US tax overhaul
Law Report 17-11
In a family law dispute named AB v CB, the plaintiffs asked the court to remove the defendants' statement of defence and courter claim