Markets Summary and Apple’s keynote | Calamatta Cuschieri

RS2 Software plc resulted into an unchanged price of €1.90 after recovering an intra-day low of -2.1%. Simonds Farsons Cisk plc closed at €10.30. Farsons’ Board of Directors are to meet on the 26th of September to approve the interim financial statements for a 6-month period, ending 31st July 2019 and also reviewing the possibility of dividend distribution. Similarly, Tident Estates plc traded at a lower price level of €1.86 which leads to a 0.5% decrease. The Board of Directors of Trident are also scheduled to meet on Wednesday 18th September to approve the interim financial statements for a 6-month period, ending 31st July 2019. In the real estate sector, Malta Propertied Company plc kept an unchanged price level of €0.68 while MIDI plc lost 3.9% having a downward trend price of €0.61.  The two largest local companies by market capitalisation had a negative day. Malta International Airport plc and Bank of Valletta plc had a negative turn on their price levels which resulted to €7.40 and €1.14 respectively. Last Friday, Malta International Airport disclosed another record number of passenger movements for the month of August. MIA from January till August 2019 had over 4.87 million passengers, which is a growth of over 6%.

Defensives lead Europe Stocks lower ahead of ECB meeting

European shares were trending negatively, dragged down by a high sell volume in the defensive sectors and worse than expected China data that stoked recession concerns ahead of the European Central Bank’s monetary policy meeting later this week. The pan-European STOXX 600 fell 0.6% having all major country indices in the red. Euro zone stocks also experienced a fall in price as investors are more conscious with regards to the ECB’s meeting which will be held on Thursday. In this meeting investors are expecting a cut in the deposit rate for the first time since 2016 and restart an asset purchase program. 

All the new Products Apple just announced

Apple kicked off its annual fall product launch, one of the most awaited events in the technological sector. The company announced a number of iPhone models, Apple Watches and an iPad, they also disclosed information with regards the Apple TV+ and Apple Arcade. Just like previous product launches, Apple launched a trio of new smartphones: iPhone 11, iPhone 11 Pro and iPhone Pro all having a price tag of over €840. All three devices are similar to their predecessors, but Apple has improved their camera systems to allow wide-angle photos and other modifications to lengthen the battery life and increase performance.

Apple also announced the Watch Series 5 with a new always-on display. The watch has an 18-hour battery life which is made possible due to an OLED display technology, an Apple creation. The company also launched a new 7th-generation iPad, which has a 10.2-inch display. Apple’s revenue streams are not only hardware products, recently investors have noted that Apple’s major profits are coming from services and that is why they are always striving to have a competitive service sector. Finally, they revealed launch dates and pricing for it much-anticipated Apple TV+ and Apple Arcade subscription services. Their prices undercuts competitors like Disney’s streaming platform, Disney+ and Google’s cloud gaming service, Stadia.
 

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.