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Wall Street closed mixed at the end of a volatile week of trading, with the Dow Jones Industrial Average being the only bright spot, as inflation concerns loom over growth names. The Dow was lifted by industrial heavyweights, including Boeing and Caterpillar Inc. Boeing jumped 3.1% as industry sources said the planemaker has drawn up preliminary plans to increase in 737 MAX output to as many as 42 jets a month in fall 2022. The S&P 500 pared its earlier gains, down 0.08% to 4,155.86, with the Nasdaq Composite finishing down by 64.75 points, or 0.48%, to 13,470.99.
European stocks meanwhile rose on Friday, as Swiss luxury goods maker Richemont jumped after its results and accelerating business growth in the euro zone kept investors cautiously optimistic in the face of rising inflation worries. The pan-European STOXX 600 index rose 0.6%, capping the week with a small gain. Cartier-owner Richemont rose 5.0% to a record high as it proposed doubling its dividend back to pre-pandemic levels after strong demand for jewellery helped lift net profit and contain the fall in sales in its fiscal year 2020/21.
Maltese markets ended mixed, with the MSE Equity Total Return Index gaining 0.33 percent to 8,309.976 points. Lombard Bank Malta Plc led the gains with shares jumping 11 percent to €2.22, followed by International Hotel Investments Plc, up 6.56 percent at €0.65. GO Plc posted the largest drop with shares down 4.89 percent at €3.50. The MSE Malta Government Stocks Total Return Index dropped 0.17 percent to 1,118.878 points while the MSE Corporate Bonds Total Return Index lost 0.16 percent to 1,117.316 points.
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