Optimistic Global Markets | Calamatta Cuschieri

The Stoxx Europe 600 index rose 0.2% to close at 390.21, partly rebounding from a 0.4% loss on Friday. Spain’s IBEX 35 stood out by rising as much as 1.2% to an intraday high of 10,306.80 during the session. On the index, shares of Banco de Sabadell SA rose 0.9% and CaixaBank SA picked up 1.4%.

U.S. stocks fluctuated near records, while the dollar held in a tight range as investors assessed the latest political developments in Washington. The Dow Jones Industrial Average and the S&P 500 index briefly notched fresh intraday all-time highs, as investors struggled to push stocks deeper into record territory. So far this year, the Dow has gained 15% as of Friday’s close, the S&P is up 14%, and the Nasdaq Composite has risen 22%.

IKEA to link with third-parties

Ikea will start experimenting with selling its famous flatpack furniture through online retailers in what marks the biggest change in the way the Swedish chain does business. The retailer has not said which websites will be part of the test. Ikea is also testing new types of stores in city centres smaller than its vast edge-of-town outlets. The move comes in response to changes in the way consumers buy big-ticket items such as sofas.

Ikea sells many of its products on its own website, but was a late arrival to the online retail market. Torbjörn Lööf, chief executive of Inter Ikea, was quoted as saying that this is "the biggest development in how consumers meet Ikea since the concept was founded. We want to learn ... we want to find out how we could keep our identity on a third-party platform."

Tesla’s new Electrek

Tesla is delaying the unveiling of its new semi-truck until November 16. The truck was originally scheduled to be unveiled on October 26, but CEO Elon Musk said the automaker is diverting resources to fix bottlenecks in Model 3 production as well as increase battery production for Puerto Rico.

The unveiling will be very closely watched by investors, as it marks Tesla’s first step away from the luxury passenger vehicle market into the commercial space. While Tesla could bring many of its core strengths to trucking market, including its autonomous driving technology and relatively low operating costs, experts remain divided as to whether the long-distance trucking industry is ready for electrification yet, considering the lack of charging infrastructure and concerns relating to battery prices, tonnage, and range.

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 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