Turkcell signs deal with Huawei | Calamatta Cuschieri

Market summary

Maltese market closed in red on Tuesday, with MSE total index ending the session 0.588% lower to 9,476.032 points. Best performer was Loqus Holdings CIsk plc, by 14.5% surge to close at 0.075, followed by 7.14% jump of GlobalCapital plc and 0.96% rise of HSBC Bank Malta plc with closing price 0.30 and 1.05 respectively. Biggest fall was seen from Trident Estates plc, 3.95% drop to 1.7, followed by 2.78% and 1.84% fall of Bank of Valletta plc and Malta International Airport plc with closing price 1.05 and 0.80 respectively.

European stocks continued pushing higher and the Dax notched up a fresh record high after the World Health Organisation's latest update on the new China coronavirus showed a further slowdown in the rate of new cases. By the end of trading Stoxx 600 jumped 0.90% to 428.48, alongside a gain of 0.99% to 13,627.84 for the German Dax while the Cac-40 was ahead by 0.65% to 6,054.76.

US stocks turned in a mixed performance on Tuesday as Wall Street continued to shrug off worries about the economic impact of the Wuhan coronavirus outbreak. At the close, the Dow Jones Industrial Average was flat at 29,276.34, while the S&P 500 was 0.17% firmer at 3,357.77 and the Nasdaq Composite saw out the session 0.11% stronger at 9,638.94.

Turkcell and Huawei’s deal

Turkish telecoms company Turkcell has signed an agreement with Chinese telecoms giant Huawei to use Huawei Mobile Services app ecosystem, said Seth Wang, a Huawei Turkey official.

Turkcell is a converged telecommunication and technology services provider, founded and headquartered in Turkey. It serves its customers with voice, data, TV and value-added consumer and enterprise services on mobile and fixed networks. Mobile communication in Turkey began when Turkcell commenced operations in February 1994.

Huawei Technologies is a Chinese multinational technology company. It provides telecommunications equipment and sells consumer electronics, smartphones and is headquartered in Shenzhen, Guangdong.

The company was founded in 1987 by Ren Zhengfei and by now it has deployed its products and services in more than 170 countries.

Turkcell said last year that Huawei has been a reliable business partner and their partnership is set to continue.


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.