Markets move higher

US stocks ended the week higher on Friday, with the S&P 500 and the Dow breaking closing records, as investors took strong economic data and bank earnings as signs of momentum in the U.S. pandemic recovery. The Dow Jones Industrial Average rose 164.68 points, or 0.48%, to 34,200.67, the S&P 500 gained 15.05 points, or 0.36%, at 4,185.47 and the Nasdaq Composite added 13.58 points, or 0.1%, at 14,052.34.

European stocks also ended at a record high, marking their seventh straight week of gains, after strong U.S. and China economic data spurred optimism about a speedy global recovery, while upbeat results from Germany’s Daimler boosted carmakers. The pan-European STOXX 600 index rose 0.8%. Leading regional peers, Germany’s DAX gained 1.3% to hit an all-time high, while UK’s FTSE 100 was up 0.5%, closing at over one-year highs.

Maltese markets also followed the global trend and closed with broad gains, with the MSE Equity Total Return Index rising 0.82 percent to 8,016.442 points. Midi Plc led the rise with shares up 7.5 percent at €0.43, followed by HSBC Bank Malta Plc, gaining 3.61 percent to €0.86. GO Plc posted the only loss with shares down 2.15 percent at €3.64. Harvest Technology plc saw the most volume after 7 trades across 77,500 shares generated a turnover of €112.375.

Sources; Reuters, Malta Stock Exchange

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