Markets Summary and MasterCard’s Crypto Future | Calamatta Cuschieri

Maltese markets closed in the red on Monday with the MSE Equity Total Return Index moving 0.631% downwards to 9,742.66 points. GO P.l.c. was the only company to post a positive gain, that of 0.44%, and then closed at €4.52. Meanwhile, Malta Properties Company P.l.c experienced a loss of 2.86% followed by a 2.60% loss from Malta International Airport P.l.c, both coming to a close of €0.68 and €7.50, respectively.

U.S markets rallied on Monday as investors’ sentiment was lifted following hopes of a resolution to the trade war. The Dow Jones Industrial Average gained 0.96%, or 249.78 points. The S&P500 also experienced positive gains of 1.21%, or 34.94 points, whilst the Nasdaq Composite Index increased 1.35%, or 106.82 points.

European markets faced positive returns after signs that measures will be implemented to sustain growth in major economies at the same time that bond yields rebounded. The pan-European STOXX 600 index jumped 1.14%, or 4.23 points, whilst the London’s FTSE 100 was up by 1.02%, or 72.50 points.

Mastercard’s cryptocurrency team

Mastercard is facing pressures to pursue new ways to create value and remain ahead of the developments of digital currency. As a result, Mastercard is now bringing together its very own cryptocurrency team, as it wants to be known as ‘’more than a card company; it wants to be a technology company,” stated analyst Ted Rossman.

Mastercard is already partnered up with Facebook to partake in the Libra cryptocurrency, but wants to continue adding value to its company by joining its own team of professionals as they understand that there is a lot of activity in this area. Mastercard stocks met gains of 1.45% this week, climbing to $278.32.

Apple’s streaming future

Ahead of their latest video streaming services, Apple has committed a budget of over $6 billion for original content including shows and videos, in the hope to catch up with other streaming giants like Netflix and Disney. Apple has been preparing to set on this journey for many years, following the hire of Jamie Erlicht and Zack Van Amburg, two prominent executives from Sony Pictures Television.

It has been planned that the service will launch in November at a price of $9.99 monthly. According to Bloomberg data, Apple is aiming to reach $50 billion in revenue by the year 2020.   

This article was issued by Peter Petrov, 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.