Markets lose steam | Calamatta Cuschieri

Markets summary, Luxury billionaires to donate to Paris’ Notre-Dame and Trump urges Boeing to rebrand its flagship

U.S. markets closed lower on Monday as last week’s gains from financial earnings ended short-lived. The Dow Jones Industrial Average slid 28 points, or 0.1%, to end around 26,384 whilst the S&P 500 lost less than 0.1% to end around 2,906. The Nasdaq Composite retreated 0.1% to finish near 7,976.

European markets ended mostly unchanged with the pan-European STOXX 600 and German DAX closing around the flat line. The UK’s FTSE 100 slipped 0.1 percent whilst Italy’s FTSE MIB advanced 0.4% together with Spain’s IBEX 35.

Maltese markets advanced with the MSE Equity Total Return Index gaining 0.18% to 9,368.328. Malita Investments Plc saw the biggest gains with shares jumping 4.12% to €0.885. Medserv Plc rose 2.83% to €1.08 whilst Bank of Valletta Plc dropped 2.99% to €1.30.

Luxury billionaires donate to Paris’ Notre-Dame

The chairman and chief executive officer of Gucci owner Kering SA, Francois-Henri Pinault, together with his father, Francois Pinault, will donate 100 million euros from their Artemis investment company to help in the reconstruction of Notre-Dame cathedral after the Paris landmark was ravaged by fire on Monday. Their archrival, the Arnault family, responded minutes later with a pledge of 200 million euros and the architectural and design resources of their LVMH fashion conglomerate.

A major fire had engulfed the medieval cathedral of Notre-Dame, one of France's most famous landmarks. The fire began at early evening and quickly reached the roof of the cathedral, destroying its stained-glass windows and the wooden interior before toppling the spire. Some 500 firefighters worked to prevent one of the bell towers from collapsing. More than four hours later, fire chief Jean-Claude Gallet said the main structure had been "saved and preserved" from total destruction.

Trump urges Boeing to rebrand its flagship

U.S. President Donald Trump on Monday urged Boeing Co to “rebrand” its 737 MAX jetliner following two fatal crashes, but the planemaker said it was focused on fixing the problem and brainstorming over next steps to win back public trust. For now Boeing is concentrating on submitting a software update and finalizing pilot training for regulatory approval. Regulators worldwide are preparing to review Boeing’s proposals.

Other marketing experts said talk of rebranding was inappropriate when the issue of safety was paramount. Thomas Ordahl, chief strategy officer at brand consulting firm Landor, which works for airlines and other sectors, said: “You can’t just rebrand, you have to deal with the problem.”
 

Disclaimer: This article was issued by Peter Petrov, 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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