Markets Summary and Microsoft’s future plans | Calamatta Cuschieri

Maltese markets closed in the green on Friday with the MSE Equity Total Return Index moving 0.139% higher to 9,804.495. Bank of Valletta p.l.c jumped 0.67%, coming to a close of €1.07, followed closely by HSBC Bank Malta P.l.c’s gain of 0.67% and closing at €1.50. Meanwhile, Grand Harbour Marina p.l.c experienced a downfall of 5.41% seeing it close at €0.70.

US markets rose following a turbulent week of trading. The S&P500 jumped 1.44% or 41.08 points, gains being led mainly by the financial, industrial and technology sectors.  The Dow Jones Industrial Average climbed 1.20%, or 306.62 points, while a 1.67% increase was met by Nasdaq index, coming to a close of 7,895.99.

European markets posted their best day in four and a half months as anticipation of a fiscal stimulus from Germany boosted investors’ sentiment. The pan-Europe STOXX 600 index closed 1.24%, or 4.54 points, higher. The London’s FTSE 100 was up by 0.7%, or 50 points, despite experiencing a technical glitch resulting in trading to be cut short by two hours.

Microsoft’s team-up with Nvidia

Microsoft Corporation announced that it will join forces with chipmaker Nvidia to provide its customers more realistic visuals on the famous Minecraft video game. Nvidia posted great quarterly results and stated that its profitability was improving following successful sales of new high-end graphics chips for gamers.

Jen-Hsun Huang, Nvidia CEO, detailed that “We’ve put all of the pieces in place to bring ray tracing into the future of games’’. Microsoft have sold 176 million versions of the game this year since its launch in 2014 and is expecting this team-up to further boost its future prospects.

Ferrari’s expansion of road cars

The Italian sports car manufacturer will be expanding its sales of easier-driving grand touring cars. Ferrari has seen strong, higher than expected second quarter results, as the company lately introduced its fastest car, the SF90 Stradale hybrid vehicle.

John Elkann, Ferrari’s Chairman, hinted that they are set to introduce a new GT type car in November. This is in line with Ferrari’s plans on growing revenue to €5 billion by the end of 2022, keeping it competitive with other stable premium sport car brands. This was branded as ‘’the start of the new generation of product’’ by their Senior Vice President.

This article was issued by Nadiia Grech, Junior Trader at Calamatta Cuschieri. For more information visit, https://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.