Markets summary with aviation and tech | Calamatta Cuschieri

The biggest exchanges in Europe grabbed solid gains on Monday, helped by a rebound in technology stocks. Industrial and mining large companies also led the gainers, while precious metals and oil returned most of their earlier losses. The increase in risk appetite boosted the markets after the summit of the Group of Twenty in Hamburg. On the foreign exchange market, exchange rates were quite calm, with the dollar moving modestly higher, adding downward pressure on precious metals before the start of the US trading session.

The FTSE 100 ended the session 0.26% in the green. BAE Systems rose 2.2%, followed by Anglo American's gain of 2.1%, while BHP Billiton added 1.9%. The DAX settled 0.46% higher in Frankfurt with E.ON as the best performer, surging 2.22%. Linde rose 2.02%. The CAC 40 index closed 0.4% in positive territory, with ArcelorMittal being the best stock of the day, jumping 2.34%. The Italian FTSE MIB rallied 0.84%, where Italgas topped the chart with a gain of 3.36%. Ferrari closely trailed the utility, increasing 3.32%.

On Wall Street, the session started in a narrow trading band around the flat line as investors were weighing implications of political messages at the Group of Twenty summit in Hamburg. The dollar strengthened modestly, looking to reach a record value against the yen. Later that day, the US markets climbed tepidly buoyed by the technology and energy sectors. Markets also awaited for Federal Reserve chairperson Janet Yellen, who will deliver her semiannual monetary policy report this week.

Aviation

Deutsche Lufthansa shares saw a downgrade from buy to neutral at the Union Bank of Switzerland (UBS). This means that for UBS the shares roughly reached their price target following recent consensus earnings upgrades and occurrence of events. The news led the share price to fall almost half a percent. Other brokerages also gave their verdict in line with their price targets, which range from a sell to a neutral rating.

Technology

Apple Inc. announced it has the intention to invest around €810 million in a new data center in Denmark, the second in the Scandinavian country to be powered exclusively by renewable energy. 

The new data centre will be built in the southern Danish town of Aabenraa, near the German border, and is expected to begin operations in the second quarter of 2019. The center will power Apple's online services, including the iTunes Store, App Store, iMessage, Maps and Siri for customers across Europe. Apple already started building a data centre in Denmark near the town of Viborg, which is set to start working later this year.

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.