Market roundup and Cryptocurrencies | Calamatta Cuschieri

European Market

European markets closed in the green on Tuesday despite rising global tensions over a potential trade war, as well as political uncertainty sparked by the Italian general election over the weekend.

The results showed that around half of the voters supported the anti-establishment 5 Star Movement and Northern League, seen as reviving the populist threat in Europe. However, the two parties are unlikely to team up in a coalition, and analysts expect a protracted period of political horse trading for a new government to emerge.

The DAX closed 0.19% higher led by utilities company RWE rising 2.54%. The CAC 40 gained 0.06% at the close, as Valeo went up 3%. The FTSE 100 finished 0.43% in the green, with Smurfit Kappa Group soaring 19.20% on news that it had rejected a takeover bid by US-based International Paper Co, which it claims undervalued its business.

US Market

Meanwhile on Wall Street, stock markets were higher as news broke of North Korea's willingness to hold "candid" talks with the US, and suspend nuclear and missile activities during the discussions. On the other hand, the white house confirmed that President Donald Trump will sign actions on imposing barriers on steel and aluminium from abroad, sometime next week.

Crypto world

The South Korean travel website run by With Innovation Corp. will start accepting payments in 12 different cryptocurrencies from customers wishing to book one of over 50,000 hotels and other accommodation facilities across the country.  The website which partnered up with one South Korea’s most prominent crypto exchanges, Bithumb, made it possible for online users to pay for their stay in virtual money.

The fifth biggest cryptocurrency platform Bithumb allows the use of 12 most widespread digital currencies, including bitcoin, bitcoin cash, ripple, ethereum, and litecoin. The exchange is expecting virtual currencies used to make reservations and payments for domestic and international travellers, which will be of great help in increasing convenience

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.