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The S&P 500 dipped on Monday, as fuel demand worries during a resurgent pandemic sent energy stocks lower but rising U.S. Treasury yields lifted financial stocks, keeping Wall Street’s benchmark index near record levels. Energy shares were the worst performing of the 11 major S&P sectors, down 1.48% along with crude prices as mounting coronavirus cases and the potential for restrictions, particularly in China, raised worries about the fuel demand outlook. The Dow Jones Industrial Average fell 106.66 points, or 0.3%, to 35,101.85, the S&P 500 lost 4.17 points, or 0.09%, to 4,432.35 and the Nasdaq Composite added 24.42 points, or 0.16%, to 14,860.18.
European stocks reached a record high after healthcare, utilities and technology gains outweighed declines triggered by a fall in commodity prices earlier on Monday. The pan-European STOXX 600 index rose 0.2% to a closing high of 470.68 points, powered by rises in the defensive sectors of utilities and healthcare. Technology stocks rose 0.5%, led by a 4.5% jump in British food delivery company Deliveroo after Germany’s Delivery Hero took a 5.09% stake in it.
Maltese markets meanwhile ended lower, with the MSE Equity Total Return Index losing 0.283 percent to 8,002.963 points. HSBC Bank Malta Plc led the losses with shares down 3.61 percent at €0.80, followed by Go Plc which lost 1.73 percent to €3.40. Midi Plc meanwhile recorded the largest gain with shares up 3.5 percent at €0.414.
Source: Reuters, Malta Stock Exchange
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