Markets end little changed | Calamatta Cuschieri

Wall Street ends little changed, posts big weekly gain on Washington gridlock hopes

U.S. stocks held near the unchanged mark on Friday to close out a strong week as Democratic challenger Joe Biden edged closer to victory in the presidential election. The Dow Jones Industrial Average fell 66.78 points, or 0.24%, to 28,323.4, the S&P 500 lost 1.01 points, or 0.03%, to 3,509.44 and the Nasdaq Composite added 4.30 points, or 0.04%, to 11,895.23.

European stocks closed slightly lower on Friday, taking the shine off a 7% rally this week as investors focused on soaring coronavirus cases on the continent and uncertainty around the U.S. presidential election. The pan-European STOXX 600 slipped 0.2% after a five-day winning streak that marked the index’s best week since early June.

Maltese markets climbed as the MSE Equity Total Return Index closed up 0.3 percent to €7,117.922 points. Malita Investments Plc led the gains with shares up 2.3 percent to €0.89, followed by RS2 Software Plc which gained 1.98 percent to €2.06. HSBC Bank Malta Plc meanwhile posted the largest volume with 492,000 shares changing hands over 15 trades, lifting the share price 1.43 percent to €0.71.

Chinese autonomous truck startup Inceptio raises $120 million from CATL

China's Inceptio Technology, a startup developing self-driving trucks, said on Monday it has raised $120 million in its latest funding led by top Chinese electric vehicle battery maker CATL. The funding comes six months after a $100 million funding in April. Logistics firm GLP, Inceptio’s key strategic investor G7 and Nio Capital also invested in the new funding, Inceptio said in a statement. It did not disclose its valuation.

CATL, which supplies Volkswagen VOWG and Tesla, is working with truck makers to develop a business model for electric trucks using its battery-swapping technologies. Inceptio is now focusing on level 3 autonomous technologies, which refer to drivers being able to turn their attention away from driving tasks but still requires them to respond immediately in some scenarios. It has partnerships with Dongfeng Motor and Sinotruk Hong Kong Ltd.


Source: Reuters

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