The Malta Independent 25 April 2019, Thursday

US advances whilst Europe watches

Monday, 15 April 2019, 14:18 Last update: about 9 days ago

US markets ended the week higher on Friday with strong earnings from the Bank sector boosting confidence on Wall Street.The Dow Jones Industrial Average advanced 269.25 points, or 1%, to end at 26,412.30, while the S&P 500 index gained 19.09 points, or 0.7%, to finish at 2,907.41. The Nasdaq Composite Index rose 36.80 points, or 0.5%, to close at 7,984.16.

European markets meanwhile ended lower as worries over global growth kept investors on edge ahead of the start of earnings season in the USA. The pan-European STOXX 600 index was down 0.2% with all of the region's bourses in the red as Europe's lenders faced pressure from the central bank's dovish stance.

Maltese stocks closed the week 0.18% lower with the MSE Equity Total Return Index ending the session at 9,351.473 points, weighed by MIDI Plc which slid 1.6% to €0.62. Malta Properties Company Plc advanced 8% to €0.61 with PG Plc gaining 1.4% to end at €1.47.

Apple - Qualcomm law suite

American tech giant, Apple Inc and itspartners announced on Monday their plans to kick off a jury trial against chip supplier Qualcomm Inc in San Diego, alleging that Qualcomm engaged in illegal patent licensing practices and seeking up to $27 billion in damages.Licensing generates most of Qualcomm profits. The model propelled Qualcomm from a small contract research and development shop when founded in 1985 to a modern-day global microchip powerhouse.

Filed by Apple in early 2017, the lawsuit in federal court revolves around the modem chips that connect devices like the iPhone or Apple Watch to wireless data networks. The trial is about the freedom to determine Apple's own technology path for its best-selling products by buying chips without having to pay what it calls a "tax" on its innovations in the form of patent licensing fees to Qualcomm that take a portion of the selling price of its devices.

 

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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