U.S. and China have made progress on trade talks | Calamatta Cuschieri
Today’s article gives an overview of the Maltese, European and U.S. markets on Thursday, and the latest news on trade talks between China and U.S
The Maltese market closed in the green on Thursday, with MSE Equity Total Return Index ending the session 0.343% higher, to 9,511.341 points. Best performer was Bank of Valletta plc adding 1.79% to close at 1.425, followed by Malita Investment plc, which closed 1.16% higher at 0.87. Plaza Centres plc and BMIT Technologies plc also performed well, by adding 0.98% and 0.97% to close at 1.03 and 0.52 respectively. Mapfre Middlesea plc and RS2 Software plc closed the list of gainers as they added 0.85% and 0.71% to 2.36 and 1.42 respectively. The only fall was from MIDI plc.; it shed 1.56% to close at 0.63. Malta Properties Company plc, GO plc, Malta International Airport plc and Trident Estates plc were active but closed unchanged.
European stocks finished lower on Thursday despite report of US-China trade breakthrough. The pan-European STOXX 600 index slid 0.02% to close at 376.82. Germany’s DAX shed 0.07% to 11428.16. France’s CAC 40 index fell 0.09% to 5296.16, while London’s FTSE 100 index rose 0.68% to close at 7234.10.
U.S. Stocks closed higher after signs of progress toward U.S.-China trade deal. The Dow Jones Industrial Average rose 0.4%, to end at 25,717.46 and the S&P 500 index also gained 0.4%, to finish at 2,815.44. The Nasdaq Composite Index closed with a gain of 0.3%, at 7,669.17.
U.S. and China trade negotiators hit the ground running with dinner diplomacy in Beijing
Trade talks between China and the United States began with a working dinner in Beijing on Thursday night as negotiators wasted no time trying to speed up the high-stakes discussions. The US delegation led by trade representative Robert Lighthizer and Treasury Secretary Steven Mnuchin arrived in Beijing on Thursday for the latest round of talks aimed at resolving sticking points at the center of the ongoing US-China trade war. U.S. and China trade negotiators hit the ground running with dinner diplomacy in Beijing.
Liu, China’s top trade negotiator, is then expected to visit Washington next week, but any final deal to end the trade war which has rattled the global economy since last year can only then be agreed at a proposed summit between President Xi Jinping and US counterpart Donald Trump.
The latest talks are expected to focus on protection of intellectual property rights, government subsidies for state-owned enterprises, trade barriers, market access and the bilateral trade imbalance.
When the US delegation came to Beijing for trade talks last month, discussions kicked off first among deputy-level officials on February 11, a day before Lighthizer and Mnuchin arrived. Two days of minister-level meetings followed only after the two lead negotiators were able to have a full day of rest before meeting Liu.
Zhang Zhexin, a US affairs expert at the Shanghai Institutes for International Studies, said that having a packed schedule showed that both sides were keen to reach a deal.
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.