Markets continue their rally

Wall Street gained ground again on Wednesday, with chipmakers and financials helping to push the S&P 500 and the Nasdaq to record closing highs as investors look to the upcoming Jackson Hole Symposium for assurances that Federal Reserve’s timeline for policy tightening remains intact. The Dow Jones Industrial Average rose 39.24 points, or 0.11%, to 35,405.5, the S&P 500 gained 9.96 points, or 0.22%, to 4,496.19 and the Nasdaq Composite added 22.06 points, or 0.15%, to 15,041.86.

European stocks ended unchanged on Wednesday as losses in Italian utilities outweighed gains in travel and bank stocks, while global markets were range-bound ahead of a policy update from the U.S. Federal Reserve this week. The region-wide STOXX 600 index closed largely unchanged at 471.84 points after a record close on Wall Street. The European benchmark itself was just less than 1 percent away from its peak.

Maltese stocks also climbed with the MSE Equity Total Return Index gaining 0.69 percent to 8,077.956 points. MIDI plc led the gains with shares jumping 19.43 percent to €0.418, followed by Plaza Centres plc which rose 4.07 percent to €0.895. BMIT Technologies plc posted the only loss with shares down 0.81 percent at €0.492. The MSE Malta Government Stocks Total Return Index lost 0.14 percent to 1,110.597 points while the MSE Corporate Bonds Total Return Index added 0.15 percent to 1,142.767 points.

Source: Reuters, Malta Stock Exchange

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