Markets move lower

Wall Street’s main indices closed lower on Tuesday as data showing stronger inflation and weaker U.S. retail sales in May spooked already-jittery investors awaiting the results of the Federal Reserve’s latest policy meeting. The Dow Jones Industrial Average fell 94.42 points, or 0.27%, to 34,299.33, the S&P 500 lost 8.56 points, or 0.20%, to 4,246.59 and the Nasdaq Composite dropped 101.29 points, or 0.71%, to 14,072.86. The largest gainer was the energy index, which rose 2.1% on oil prices hitting multi-year highs on a positive demand outlook. Exxon Mobil Corp had its best day since Mar. 5, jumping 3.6%.

European shares rose for an eighth straight session on Tuesday, driven by optimism over an economic recovery this year, but gains were limited as investors hunkered down ahead of the Federal Reserve’s two-day policy meeting. The pan-European STOXX 600 ended 0.1% higher at a record closing high of 458.81 points, also marking its longest winning streak in more than two years. Germany’s DAX ended just below all-time highs as data showed consumer prices rose 0.5% month-on-month in May, in line with economists’ expectations.

Maltese markets meanwhile ended lower, with the MSE Equity Total Return Index closing down 0.89 percent at 8,255.300 points. Midi Plc led the losses with shares falling 16.67 percent to €0.35, followed by Lombard Bank Malta Plc which dropped 13.18 percent to €1.91. GO Plc was the only stock to end up, gaining 0.6 percent to €3.38. The MSE Malta Government Stocks Total Return Index lost 0.08% percent to 1,120.449 points while the MSE Corporate Bonds Total Return Index lost 0.10% to 1,121.680 points.

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