Markets summary
The Maltese market closed in the green on Tuesday, with the MSE total index ending the session 0.845% higher to 7,171.497 points. The best performer was Bank of Valletta plc with a 2.35% surge, to close at 0.87, followed by 2.22% jump of Malta International Airport plc and BMIT Technologies plc with a closing price of 4.60 and 0.46 respectively. RS2 Software plc also finished in green by adding 1.87% to close at 2.18.
European shares were knocked lower by continued worries over the rising number of novel coronavirus cases across the Continent and doubts over the chances for further fiscal stimulus in the US before the next presidential elections on 3 November. The pan-European Stoxx 600 index was down 0.55% to 370.96 with all other major European bourses lower by a similar amount, while the German Dax fell 0.91% to 13,018.99 and the FTSE Mibtel was down 0.81% to 19,558.69.
US stocks closed lower on Tuesday as market participants digested some key corporate earnings and news of a pause in Johnson & Johnson's Covid-19 vaccine study. At the close, the Dow Jones Industrial Average was down 0.55% at 28,679.81, while the S&P 500 was 0.63% weaker at 3,511.93 and the Nasdaq Composite saw out the session 0.10% softer at 11,863.90.
iPhone 12: Apple makes jump to 5G
Apple Inc on Tuesday launched its next-generation iPhone 12, with faster 5G connectivity that the California company hopes will spur consumers to trade in their old phones and keep its sales booming through the end of the year.
The core of the line-up, the iPhone 12 with a 6.1-inch display, will sell for USD 799, while a ‘Mini’ version with a 5.4-inch screen will be slightly cheaper at USD 699. A ‘Pro’ version with three cameras and a new 3-D ‘lidar’ sensor starts at USD 999, with the largest ‘Pro Max’ starting at USD 1,099 and going up to USD 1,399.
The new products will test whether Apple can ride a wave of consumer excitement around 5G wireless data networks, whose speediest variants outstrip their predecessors’ data rates multiple times over.
Apple said all iPhone 12 models in the United States will support millimeter wave 5G, the fastest variant of the technology, as well as lower-frequency bands.
This article was issued by Nadiia Grech, 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.