Global Markets hold back on US Labor Day

European shares climbed on Monday to end near record levels, led by technology stocks which surged to their highest this year as a surprise rise in German factory orders pointed to improving global demand and boosted sentiment. The pan-European STOXX 600 index rose 0.7% to 475.19, just below its all-time high of 476.16 hit on Aug. 13. Still, trading volumes were muted throughout the day due to a public holiday in the United States. After Wall Street’s tech-heavy Nasdaq index hit a record high on Friday, European tech stocks jumped 1.7%, with shares in chip equipment maker ASML and Dutch tech investor Prosus providing the biggest boost.

Maltese markets meanwhile closed lower, with the MSE Equity Total Return Index losing 0.38 percent to 8,109.718 points. Five stocks traded, with 4 of them recording a change in price. HSBC Bank Malta Plc posted the largest drop, with shares down 3.7 percent at €0.78, followed by GO Plc, down 0.59 percent at €3.38. Malta Properties Company Plc meanwhile logged the only gain, closing up 0.95 percent at €0.53.

Source: Reuters, Malta Stock Exchange

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