Mixed feelings on self-driving and Rio Tinto reducing | Calamatta Cuschieri

Waymo announced a new premium electric fully self-driving car called the I-Pace, in partnership with Jaguar Land Rover

Waymo announced a new premium electric fully self-driving car called the I-Pace, in partnership with Jaguar Land Rover
Waymo announced a new premium electric fully self-driving car called the I-Pace, in partnership with Jaguar Land Rover

European stock markets finished the Tuesday trading session deeply in the green as investors seem to shake off fears of an incoming trade war prompted by United States President Donald Trump introducing trade measures against Chinese imports. It was reported yesterday that China offered to purchase more US semiconductors in order to reduce the trade surplus. Meanwhile, another report stated that Beijing is also looking into ways to make its market more accessible for US investments. However, the diplomatic crisis caused by Russia's alleged involvement in the poisoning of former spy Sergei Skripal persists, with NATO announcing earlier today that it will expel 7 Russian diplomats over the incident, thus joining a number of European countries, the US and Canada.

The FTSE 100 was up 1.54% to end the session well in the green, with Ferguson the best performer. The DAX gained 1.60% at the closing bell, pushed higher by Deutsche Börse. Meanwhile, the main French index CAC 40 added 0.78% to finish the trading day in the positive territory, with Solvay leading the gains.

Nvidia halts Self Driving Tests but a new project for Wymo

After Toyota’s announcement last week, here now comes Nvidia’s suspending self-driving tests across the world, after the Uber fatality last week. The chip maker is testing the self-driving technology including Japan and Germany. Shares of Nvidia lost some ground following the news.

On the other hand, a unit of Google’s Alphabet Inc, Waymo announced a new premium electric fully self-driving car called the I-Pace, in partnership with Jaguar Land Rover. The company said it would add 20,000 I-Pace vehicles to its fleet within the first two years of production. The deal to buy the Jaguar I-Pace all-electric SUV vehicles will be modified with radar, Lidar sensors and cameras. The collaboration that extends through 2026 should produce the world's first premium electric fully self-driving vehicle built for Waymo’s transportation service, the company stated.

Rio Tinto sells its last coal mine in Australia

One of the world's largest metals and mining corporations, Rio Tinto announced it reached a binding agreement with a consortium comprising private equity manager EMR Capital (EMR) and Indonesian listed coal company PT Adaro Energy Tbk (Adaro), in order to sell its entire 80% interest in the Kestrel underground coal mine in Queensland, Australia. The deal to sell Rio Tinto's last remaining coal complex in Australia is expected to go through in the second half of 2018, bringing the total amount of company's recent coal assets divestments in Australia's Queensland to $4.15 billion.

Last week, the company announced it sold two coal mine complexes in Queensland to rival Glencore, in a deal worth $1.7 billion.

 

Disclaimer

This article was issued by Rodrick Duca, 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.

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