Markets update and Boris Johnson Has a Week.... | Calamatta Cuschieri

Johnson’s future now rests on whether he can reach a compromise with Brussels while still keeping his new converts on board at home

Market summary

Maltese market closed in green on Thursday, with MSE total index ending the session 0.092% higher to 9,882.317 points. Best performer was Grand Harbour Marina plc by jumping 8.20% to close at 0.66. Followed by Loqus Holdings plc and Malta International Airport plc which added 6.25% and 3.45% to close at 0.085 and 7.5 respectively. Biggest fall of 2.21% was seen from Midi plc, it close at 0.665. Followed by 2.10% slid of HSBC Bank Malta and 1.89% shed of BMIT Technologies plc. Closing price was 1.40 and 0.52 respectively.

European shares made a small gains on Thursday after their worst sell-off in two months a day earlier. By the close of trading, the Stoxx 600 was down 0.02% at 377.46, as the French CAC 40 added 0.30% to 5,438.77. Germany's Dax was closed for a public holiday, while London's FTSE 100 was 0.63% lower at 7,077.64.

U.S. stocks closed higher Thursday, recovering from two days of losses, as investors bet that signs this week of a slowing economy will prompt the Federal Reserve to lower interest rates for the third time this year at its late October meeting. The Dow Jones Industrial Average closed up 0.47%, at 26,201.04 while the S&P 500 index rose 0.8% to 2,910.63, and the Nasdaq Composite index rose 1.12% to 7,872.

EU gives Boris Johnson one week to improve Brexit offer or face delay

Prime Minister Boris Johnson was given a week by the European Union to revise his Brexit deal or risk a humiliating postponement of Britain’s departure from the bloc just as support was building at home for his plan.

The EU’s chief negotiator, Michel Barnier, told a private meeting of European senior diplomats that the latest British blueprint for post-Brexit arrangements along the border with Ireland fell far short of his conditions for a deal, three EU officials said.

Johnson’s future now rests on whether he can reach a compromise with Brussels while still keeping his new converts on board at home.

The EU will make a decision in a week about whether the two sides are closing in on a deal as they demanded the British government come up with a better offer.

In a sign of the determination to thrash out an agreement, David Frost, Johnson’s envoy to the EU, immediately resumed talks in Brussels and will continue on Friday. Johnson himself may hold meetings in several European capitals over the weekend, officials said.

 

This article was issued by Nadiia Grech, 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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