Stocks surge higher

The S&P 500 and Nasdaq topped their record closes once again on Monday, bolstered by technology stocks, as last week’s dovish comments from the Federal Reserve on tapering its monetary stimulus refocused investors’ minds on economic growth. Apple Inc jumped 3% to an all-time high, while Microsoft Corp, Amazon.com, Google-owner Alphabet Inc rose between 0.4% and 2.1%, helping the tech-heavy Nasdaq outperform the S&P 500 and the Dow. The Dow Jones Industrial Average fell 55.96 points, or 0.16%, to 35,399.84, the S&P 500 gained 19.42 points, or 0.43%, to 4,528.79 and the Nasdaq Composite added 136.39 points, or 0.9%, to 15,265.89.

European stocks ended flat on Monday as a British holiday made for languid trade, but were set for strong monthly gains on expectations that continued central bank support would sustain an economic recovery. The Europe-wide STOXX 600 ended largely unchanged at 472.68 points but was on course to end August with a 2.4% rise. Oil and gas stocks closed flat as crude prices retreated from three-week highs after a powerful hurricane slammed into the U.S. Gulf coast, forcing shutdowns and evacuations of hundreds of offshore oil platforms.

Maltese markets meanwhile ended lower, with the MSE Equity Total Return Index losing 0.24 percent to 8,037.232 points. Tigne` Mall plc led the gains with shares up 6.33 percent at €0.84, followed by Malita Investments plc, up 4.88 percent at €0.86. Medserv plc posted the largest loss, down 3.33 percent at €0.725.

Source: Reuters, Malta Stock Exchange

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