Boeing Opens Paris Air Show with 737 MAX Apology | Calamatta Cuschieri

Today’s article gives an overview of the Maltese, European and U.S. markets on Monday, together with the Boeing participation in Paris Air Show

The Maltese market closed in the green on Monday, with the MSE Equity Total Return Index ending the session 0.314% higher, to 9,912.201 points. Best performer was Trident Estates plc. It rose 6.18% to close at 1.89, followed by International Hotel Investment plc which jumped 5.88% to 0.90. MaltaPost plc also finished on a positive note with 0.68% increase to close at 1.49. Biggest fall was seen from Mapfre Middlesea plc. It shed 5.36% to 2.12, followed by Malta International Airport plc, which slid 1.34% to close at 7.35. Most of other stocks were active but closed unchanged.

European stock markets closed marginally lower on Monday with a profit warning from Germany’s Lufthansa hitting airline stocks, while markets globally awaited clues from the U.S. Federal Reserve on its policy direction. The pan-European STOXX 600 index finished 0.1% lower. France’s CAC 40 was led higher by luxury stocks, while IT company Indra Sistemas’ 7.1% slip took Spain’s IBEX 35 0.7% lower.

U.S. stocks closed higher Monday on the back of strong gains in social media and entertainment shares such as Facebook Inc. and Netflix Inc., as investors await the Federal Reserve’s policy-setting meeting due to start today. The Dow Jones Industrial Average rose to 26,112.53. The S&P 500 index climbed to 2,889.67 as social media, entertainment and real estate stocks rallied. The Nasdaq Composite Index added 0.6%, to 7,845.02.

Boeing have opened the first day of the Paris Air Show by apologizing for the two crashes involving their 737 MAX aircraft

As Airbus celebrate the launch of their latest model, the A321XLR, the mood in the Boeing camp is far more somber as they reflect on the 737 MAX disasters and how that will affect them going forward.

While plane makers usually use the global stage of the Paris Air Show to demonstrate their newest and best technology, Boeing are using it for something else. Still reeling from the two 737 MAX crashes that rocked the aviation world, the announcement of their anticipated NMA aircraft has been put on ice.

Added to this, the US manufacturer has had to divert so much attention to fixing the MAX that the timetable of their 777X has slipped. As such, they have no new aircraft to debut at the Air Show. Instead, they opened the show by saying ‘sorry’.

The plane maker has also reiterated that they are learning lessons from the two disasters, and that this is feeding into the development of the 777X.

 

This article was issued by Nadiia Grech, junior trader at Calamatta Cuschieri. For more information visit, http://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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