US markets ended the week mostly higher on Friday with gains party attributed to better-than-expected retail sales in September. The Dow Jones Industrial Average gained 112.11 points, or 0.4 percent, to at 28,606.31 while the S&P 500 index rose on 0.47 points to 3,483.81. The Nasdaq Composite Index meanwhile sank 42.32 points, or 0.4 percent, to end the session at 11,671.56.

European markets also rebounded on Friday, thanks to upbeat earnings results from LVMH Moët Hennessy Louis Vuitton and Daimler. The pan-European Stoxx 600 index gained 1.3 percent in its best session in nearly three weeks with the UK’s FTSE 100 index rising 1.5 percent.

Maltese stocks also closed higher, with the MSE Equity Total Return Index gaining 0.388 percent to 7,126.746 points. RS2 Software Plc led the gains with shares up 3.81 at €2.18 on a single trade of 128 shares. PG Plc posted the second largest gain with shares up 1.08 percent at €1.88.

UK tells EU not to come for talks

Britain’s chief Brexit negotiator David Frost has told his European Union counterpart Michel Barnier not to come to London on Monday to try to break an impasse in trade talks but the two men agreed to talk again early next week, Prime Minister Boris Johnson’s office said. Prime Minister Boris Johnson said on Friday that the European Union didn’t seem to want a trade deal so unless the bloc changed course, the United Kingdom would leave without a deal on Dec. 31.

“They don’t want to go any further. Unless that fundamentally changes, the we are going to have to come out on Australian terms - but we will prosper mightily nonetheless.” The Prime Minister said. UK negotiator Frost spoke to his EU counterparty, Barnier after Johnson said EU leaders had left Britain unable to continue the negotiations without a fundamental change in the EU’s approach, a spokesman for Johnson said.

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.