Markets secure gains | Calamatta Cuschieri

Global markets post modest gains & U.S. President Donald Trump tests positive for COVID-19

US markets secured modest gains on Thursday as investors the ongoing attempts by lawmakers to pass another fiscal stimulus package through Congress. The Dow Jones Industrial Average crept up 35.2 points, or 0.1 percent, to 27,816.90, while the S&P 500 index gained 17.8 points, or 0.5 percent, to 3,380.8. The Nasdaq Composite Index meanwhile surged 159 points, or 1.4 percent, to end the session at 11,326.51 points.

European stocks meanwhile reversed their earlier gains to close slightly higher as weak performance in oil stocks and Germany pharmaceutical giant, Bayer, outweighed a string of positive earnings reports. The pan-European Stoxx 600 index added 0.2 percent, after reaching nearly 0.9 during the session. Total, BP and Royal Dutch Shell all fell between 2.4% and 3.8%.

Maltese markets also gained with the MSE Equity Total Return Index closing up 0.64 percent at 7,300.401 points. Plaza Centres Plc led the gains with shares up 6.38 percent at €1.00 followed by International Hotel Investments Plc and Mapfre Middlsea Plc which both rose 5.26 percent to €0.52 and €2.00 respectively.

U.S. President tests positive for COVID-19

U.S. President Donald Trump said on Friday that he and his wife Melania had tested positive for COVID-19 and were going into quarantine, upending the race for the White House. “We will begin our quarantine and recovery process immediately. We will get through this TOGETHER!” the president said in a late night tweet. Reports emerged that Hope Hicks, the 31 year old advisor to Trump, had tested positive for the virus earlier in the day. Hicks had travelled with the president on Air Force Once to a televised debate held this week.

The latest developments create drastic changes to the presidential race. The White House issued a new schedule for Trump’s activities on Friday that did not include his planned trip to Florida. Trump has held regular rallies around the country to drum up enthusiasm for his candidacy against the former vice president. Stock futures fell in early trading after the news

 

This article was issued by Peter Petrov, 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.

More in Business Comment
Markets end week higher | Calamatta Cuschieri
Business Comment
Calamatta Cuschieri
Markets drift lower | Calamatta Cuschieri
Business Comment
Calamatta Cuschieri
Logitech sales are soaring during the pandemic | Calamatta Cuschieri
NASA picks Nokia to build moon mobile network | Calamatta Cuschieri