Maltese market closed in green on Thursday, with MSE total index ending the session 0.117 per cent higher to 9,857.015 points. Best performer was Lombard Bank Malta plc by adding 1.79 per cent to close at 2.28, followed by 1.56 per cent gain of HSBC Bank Malta plc and 0.67 per cent move of Trident Estates plc which closed at 1.30 and 1.51 respectively. Biggest fall was seen from Grand Harbour Marina plc, it slid 9.09 per cent to close at 0.50. Followed by 2.82 per cent shed of Midi plc and 1.62 per cent fall of Malita Investment plc, which closed at 0.69 and 0.91 respectively.
European stocks were slightly lower on Thursday, as trade negotiations between Beijing and Washington appeared to hit a snag, although the latest data revealed that Germany narrowly avoided falling into a technical recession in the third quarter. By the end of trading, the Stoxx 600 was 0.36 per cent lower at 404.41, as the German DAX dropped by 0.38 per cent to 13,180.23 and France's CAC 40 dipped 0.1 per cent to 5,901.08. Meanwhile, London's FTSE 100 fell by 0.80 per cent to 7,292.76.
US stock indexes were mixed and bonds advanced as the risk rally stalled below all-time highs amid mixed economic data and mounting concern over a partial trade deal. The yen gained along with gold. The Dow Jones Industrial Average slipped 0.01 per cent, to 27,781.96, while the S&P 500 index ended up 0.08 per cent, at 3,096.63. The Nasdaq Composite index declined 0.04 per cent, to 8,479.02.
The firm said it plans to partner with banks and credit unions in the US to offer the "smart checking" accounts. It said the service, to be launched via Google Pay, will allow users to add Google's analytic tools to traditional banking products. The move follows offerings of credit cards, payment systems and loans by Facebook, Uber, Apple and Amazon.
Amazon's credit card and business loans are aimed at boosting its e-commerce business, while Uber Money is providing credit cards, debit accounts and money tracking tools to serve the company's taxi operations. And both Google and Apple, which has teamed up with Goldman Sachs' new consumer arm, Marcus, on a credit card as part of its Apple Pay and Wallet service, want to make iPhones and Androids essential.
The moves into banking are likely to add to the debates over the tech giants, which are already facing probes related to competition, data protection and privacy. Some officials have also expressed worry about gaps in financial oversight as growing activity occurs outside of traditional banking. And in recent days, New York announced it would investigate Apple, after accusations that its credit card relied on "sexist" algorithms.
This article was issued by Nadiia Grech, 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.