Global markets end mixed | Calamatta Cuschieri

Choppy trading in global markets and Boeing suspending its new wide-body airliner

US markets notched slight losses after a choppy start to the week on Monday as investors looked ahead to the latest moves from European Central Bank and the Federal Reserve on monetary policy. The Dow Jones Industrial Average gained 38.05 points, or 0.1 percent, to 26,835.51 while the S&P 500 index edged down less than a point, or 0.01 percent, to 2,978.43. The Nasdaq Composite Index slipped 15.64 points, or 0.2 percent, to close the session at 8,087.44.

European markets also reversed their earlier gains and closed lower with pressure from the defensive sectors such as healthcare and utilities weighing on the region’s indexes. The pan-European Stoxx 600 index closed down 0.3 percent with London’s FTSE 100 index losing 0.6 percent, suffering from gains in the pound. The banking sector reversed the trend and reached a more than one-month high after a 2.2 percent gain.

Maltese markets meanwhile moved higher with the MSE Equity Total Return Index closing up 0.227 percent at 9,853.115 points. The largest gains were seen from Bank of Valletta Plc which closed up 1.33 percent at €1.145, followed by RS2 Software Plc which gained 1.06 percent to end at €1.90. Malta Properties Company Plc lost 2.86 percent to close the session at €0.68.

Boeing suspends testing of new 777X

Boeing Co on Saturday announced it had suspended load testing of its new widebody 777X aircraft as media reports said a cargo door failed in a ground stress test. The problem happened during the final test that must be passed as part of the plane’s certification by the Federal Aviation Administration.

“During final load testing on the 777X static test airplane, the team encountered an issue that required suspension of the test,” Boeing spokesman Paul Bergman said in a statement. “Overall testing is continuing,” Bergman said. The test occurred on Thursday, he said, declining to provide other details of the incident.

Chicago-based Boeing has also been unable to deliver any of its 737 MAX aircraft since the single-aisle plane was grounded worldwide in March after two fatal crashes in Indonesia and Ethiopia killed 346 people.

 

This article was issued by Peter Petrov, Junior Trader at Calamatta Cuschieri. For more information visit, https://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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