Dow sets fresh record | Calamatta Cuschieri

The Dow Jones Industrial Average hit a record high on Tuesday, reaching 23,470 points after Caterpillar Inc. and 3M Co. delivered results that topped estimates, while General Motors Co. and Fiat Chrysler NV also rallied on earnings. Solid earnings reports from U.S. blue-chip companies sparked optimism in the world’s largest economy, lifting equities, the dollar and Treasury yields. The S&P 500 was up 5.5 points, or 0.2%, to 2,571. The Nasdaq Composite rose 21 points, or 0.3%, to 6,607. Both the S&P and the Nasdaq remain within one percentage point of their own records.

U.K. stocks closed with a tiny gain on Tuesday, with shares of Whitbread PLC keeping a lid on gains after the company’s earnings report sparked concerns about its coffee chain Costa. The FTSE 100 index rose less than 0.1% to end at 7,526.54, delivering a third straight session featuring a move smaller than 0.1%. Anglo American PLC amongst other miners picked up 0.1% after the company said its third-quarter output rose 6% on a copper-equivalent basis.

Commerzbank looking at take-overs

Shares in Commerzbank jumped more than 4% today amid reports the German lender had engaged investment bankers to advise it on potential takeover offers. Commerzbank is still partly owned by the German government, having taken state aid during the financial crisis. In the years since it has undergone heavy restructuring in a bid to become a more streamlined and profitable institution.

Commerzbank is understood to be working with Goldman Sachs and Rothschild — two of Europe's best-known banks for Mergers & Acquisition work. Little more than a year ago it announced plans for a fresh overhaul under chief executive Martin Zielke, that included 10,000 staff lay-offs and a restructure of its much scaled-back investment bank. Commerzbank's shares were trading up 4.6% at €11.95 at 15:05 BST.

Singapore Airlines to fly Boeing

Singapore Airlines has finalised a deal worth $13.8bn (£10.4bn) to buy new Boeing aircraft to modernise its fleet over the next decade. The previously announced deal was signed at a White House event with Singapore's prime minister on Monday. The carrier will purchase 39 aircraft, including 777-9 and 787-10 models.

Singapore Airlines said that the new Boeing jets would give the carrier "new growth opportunities, allowing us to expand our network and offer even more travel options". The order includes 20 777-9 models, intended primarily for long-haul routes, and 19 Dreamliner 787-10 planes. The first 787 will be delivered next year.

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.