Daimler aims for worldwide carbon-neutral production | Calamatta Cuschieri

Markets summary

The Maltese market closed in the red on Monday with the MSE total index ending the session 1.530% lower at 7,937.601 points. The best performer was Simonds Farsons Cisk plc, by adding 3.11% to close at 8.30, followed by 1.96% increase of Bank of Valletta plc with a closing price of 1.04. The biggest fall was seen from FIMBank plc, 25.53% drop to 0.35, followed by 7.14% and a 5.84% slide of MIDI plc and BMIT Technologies plc with a closing price of 0.39 and 0.45 respectively.

Stocks in Europe finished mostly higher after the minutes of the European Central Bank's last policy meeting showed rate-setters in Frankfurt were keeping the door open to further stimulus if needed. By the end of trading, the benchmark Stoxx 600 dipped 0.03% to 340.17, alongside a 0.07% advance for the German Dax to 11,073.87, while the Cac-40 drifted 0.02% lower to 4,444.56.

U.S. markets were closed Monday for the Memorial Day holiday, but investors are expected to keep a close watch on Wall Street this week as tensions between the U.S. and China rise and coronavirus restrictions are gradually lowered.

Daimler aims for worldwide carbon-neutral production by 2022

Daimler AG is pushing ahead with plans to produce an all-electric version of its flagship Mercedes S-Class sedan from next year even as it cuts back in other areas to weather a slump in demand across the industry.

The company’s main Mercedes-Benz cars unit aims to make all of its factories CO2-neutral by the end of 2022, Chief Executive Officer Ola Kallenius said Monday in a webcast. The goal was previously restricted to Europe. Daimler also confirmed that it will roll out a fresh version of the Mercedes-Benz S-Class in the second half of this year, another key project.

It’s critical for Daimler to stick to its main strategic goals -- from eliminating carbon emissions to boosting digital operations -- to overcome the crisis sparked by the Covid-19 outbreak, Kallenius said. “We’re not taking our eye off the ball,” he added.

The world’s bestselling luxury-car maker has been looking to accelerate restructuring efforts in the wake of the pandemic, which closed factories and showrooms around the world. Demand in the brand’s largest market, China, has started to recover, while lockdown measures in Europe and the U.S. are gradually easing.

 

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.

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