The Malta Independent 8 August 2020, Saturday

Markets end mixed on thin volumes during US holiday

Tuesday, 21 January 2020, 13:17 Last update: about 8 months ago

European markets logged a soft start to the week and slipped on Monday as investors turned to profit-taking after last Friday’s record session and as the US markets remained closed for Martin Luther King Jr. Day. The pan-European Stoxx Europe 600 slipped 0.2 percent to 423.53 together with Germany’s DAX which closed at 13,504.89. The UK’s FTSE 100 also lost 0.2 percent while France’s CAC 40 fell 0.4 percent.

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Maltese markets meanwhile nudged higher with the MSE Equity Total Return Index closing up 0.1 percent at 9,532.433 points. Mainstreet Complex Plc led the gains with shares up 5.45 percent at €0.58 following by Bank of Valletta Plc which gained 0.92 percent to close at €1.10. Midi Plc meanwhile was the only equity to close in the red with shares down 4 percent at €0.48.

China’s Great Wall to enter Indian Market

Great Wall Motor has agreed to buy General Motors’ car plant in India, the companies said on Friday, as the Chinese automaker expands overseas amid slowing domestic demand. “The Indian market has great potential, rapid economic growth and a good investment environment. Entering the Indian market is an important step for Great Wall Motors’ global strategy,” Liu Xiangshang, vice president, global strategy at the Chinese automaker said.

Chinese automakers are accelerating plans to build cars in India to combat slowing sales at home and have been encouraged by the initial success of rival SAIC Motor in the country, sources have told reporters. Great Wall, one of the biggest sellers of sports-utility vehicles in China, plans to enter India with its Haval and electric vehicle brands and will announce detailed plans at the Delhi auto show in February, Liu said in the statement.

This article was issued by Peter Petrov, 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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