The Malta Independent 22 October 2018, Monday

Markets roundup, Apple and Toyota

Tuesday, 19 December 2017, 12:16 Last update: about 11 months ago

Markets roundup

European markets finished the trading session in the green on Monday as hopes of the US tax bill being passed in Congress this week increased and boosted confidence that corporations will see tax cuts.

The FTSE 100 ended 0.57% in the green, with insurance group Old Mutual Plc soaring 5.02%. The German DAX gained 1.64%, as the electric utility RWE AG added 1.78%.In France, the CAC 40 finished 1.42% higher, led by the luxury goods conglomerate LVMH, which was 2.32% higher at the close.

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The euro also advanced, gaining against the dollar and selling in the region of 1.1803. The pound followed suit, growing 0.52% compared to the dollar which went for around 1.3398 during the session.

Apple Inc.

On Wall Street, Apple Inc. shares reached an all-time intraday high during the trading session, gaining 1.30% and later on adding an extra 0.13%. The iPhone maker’s shares jumped 52% in a year, absorbing minor setbacks such as negative Apple Watch Series 3 reviews.

Earlier today, the technology giant was in the news due to reports of a fake iOS version of the popular game Cuphead appearing in its App Store for $4.99. The game developers Studio MDHR released a tweet confirming the app is an “imposter” and saying they are working on removing it. The game is no longer available in the App Store.

The Cupertino-based company had a busy year, lately releasing the iPhone X, investing in laser manufacturing, as well as buying the popular music recognition app Shazam. Apple announced a 12% increase in revenue for the fourth fiscal quarter year on year.

Toyota Motor Corp.

Toyota Motor Corp. revealed that there is $13.32 billion in the program for the development of power storage for low-emissions cars. This is part of the strategy for electrification through 2030, where company officials reiterated batteries as the greatest challenge. The giant Japanese manufacturer expressed confidence in its new joint project with Panasonic Corp. for prismatic solutions, and vowed to offer electrified versions of all its models by the middle of the next decade.

On top of the plan to stop developing vehicles with conventional propulsion, Toyota outlined the goal to lift sales of hybrid, plugin, fuel cell and fully electric units to more than 5.5 million per year. It still doesn't produce the last of the four segments, while its objective, according to the announcement, is one million battery or fuel cell vehicles. The carmaker said it wants its carbon dioxide emissions to be cut by 90% from 2010 levels by 2050.

Disclaimer:

This article was issued by Rodrick Duca, Trader at Calamatta Cuschieri. For more information visit, www.cc.com.mt. The information, view and opinions provided in this article is 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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