Markets jump on earnings | Calamatta Cuschieri

US markets shot higher on Tuesday as investors cheered the latest round of blue-chip earnings. Both the S&P 500 and Nasdaq Composite shot to fresh records, with the Nasdaq rising 105.56 points, or 1.3%, to 8,120.82 and the S&P 500 gaining 25.71 points, or 0.9%, to 2,933.68. The Dow Jones Industrial Average closed less than 1% away from its record, up 145.34 points, or 0.6%, at 26,656.39.

European markets also closed higher, led by a rally in the auto sector after better-than-expected economic data from China buoyed investor confidence. The pan-European Stoxx 600 index gained for a sixth-straight session with Germany’s DAX adding 0.11% to reach a new 6-month high whilst the UK’s FTSE 100 ended mostly unchanged.

Maltese markets meanwhile edged lower, with the MSE Equity Total Return Index declining 0.202% to 9,385.016 points. Tigne Mall Plc led the move lower, ending down 2.08% to €0.94, followed by Bank of Valletta Plc, which slipped 1.87% to €1.315. Go Plc meanwhile gained 1.66% to close up at €4.90 together with MaltaPost Plc, which advanced 1.66% to end the session at €1.18.

Softbank - Wirecard join forces

Shares in Wirecard jumped 10 percent after it announced that Japan’s Softbank Group Corp. will buy a 5.6 percent stake in the digital-payments company. Under the agreement, Wirecard will issue bonds exclusively to an affiliate of Softbank that will convert into 6.92 million Wirecard shares after five years, currently equivalent to around 5.6 percent of the company.

Wirecard and Softbank said they had also signed a strategic partnership to collaborate in the area of digital payments. As part of this, Softbank will help Wirecard expand into Japan and South Korea, and provide opportunities to collaborate with other companies in its portfolio in areas such as data-analytics and innovative digital financial services.

Coca-Cola Coffee

Coca-Cola is planning on making a big push into the coffee industry this year by releasing Coca-Cola Coffee in more than 25 markets around the world by the end of 2019. The drink, which blends Coke with coffee, has slightly less caffeine than a normal cup of coffee but more than a can of the soda.

So far, the global beverage giant’s coffee business has largely been focused in Japan, where canned coffee has been popular in vending machines for decades. This move comes as consumers have shifted from drinking soda to choosing less sugary options and also allows the company to capitalize on a trend that is working: ready-to-drink coffee.

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 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.