Daily Report 03.05.2019
Datum objave: 03.05.2019
Serbia's GDP growth slows to 2.3% y/y in Q1
The Serbian economy expanded by a real 2.3% year-on-year in the first quarter of 2019, the country's statistical office said in a flash estimate. Serbia’s real gross domestic product (GDP) growth slowed to 3.4% year-on-year in the fourth quarter of 2018 from 3.8% in the previous quarter. The statistical office said it will release more details on the first-quarter GDP on May 31.
NIIS: NIS reports disappointing net profit for 1Q19
NIS, oil&gas company, report RSD 158m in its 1Q19 profit, down huge 96% y/y on lower EBITDA and higher negative other result. The company sales grew only 1.9%, while EBITAD was down 30% y/y, on lower oil price while, maintenance works at Pancevo refinery also contributed to poor performances in the period. After these numbers, the company’s fill year outlook is clearly worsen, with annual profit seen down at least 20-30% y/y.
Source: NIIS, Ilirika
ENHL: Energoprojekt reported higher consolidated net profit on better other&financial result, while sales shrink 30% y/y
Energoprojekt, the largest Serbian construction company, reported RSD 740m in its consolidated net profit, up 41% y/y, but this arrived only due to better financial and other result. The company’s sales were down nearly 30% y/y, probably due to lower amount of executed job and unfavorable USD/RSD and EUR/RSD rate. Operating profit came in at only RSD 62m, which is much lower vs RSD 1bn from 2018.
Source: Belex, Ilirika
Dow drops 120 points, stocks fall for a second day after Fed Chief Powell signals no rate cut soon, Europe shares close lower as BOE holds rates, factory activity contracts, VW up 4%
Stocks fell on Thursday as interest rates continued to rise following comments on Wednesday by Federal Reserve Chairman Jerome Powell. The Dow Jones Industrial Average fell 122.35 points or 0.46% to 26307.79 with most of the losses coming as the yield on the 10-year Treasury yield hit an intraday high. The 30-stock benchmark dropped as much as 249 points at its intraday low. The S&P 500 slipped 0.21% to 2917.52, while the Nasdaq Composite fell 0.16% despite a jump in Tesla shares.
Thursday’s pullback was led by the tech sector as stocks such as Apple and Microsoft retreated from highs that came after better-than-expected earnings earlier this week. Shares of the iPhone maker fell 0.65% Thursday after surging as much as 6% on Tuesday when it reported strong guidance and an improvement in its China business. Microsoft was down more than 1.3%, falling for a second day after briefly hitting $1 trillion market cap on strong earnings.
Tesla shares rose more than 3% after the company unveiled a plan to raise up to $2 billion, with $1.35 billion coming from convertible bonds. The remaining $650 million would come from new equity, which includes a $10 million purchase by CEO Elon Musk.
European stocks closed lower on Thursday as traders reacted to comments from the chair of the Federal Reserve, a Bank of England monetary policy statement, corporate earnings and disappointing data from the euro zone. The pan-European Euro Stoxx 600 Index ended the session 0.6% lower. All major bourses and most sectors were in negative territory at the closing bell.
Looking at individual stocks, Volkswagen reported first-quarter earnings in line with expectations on Thursday, as the automaker attempts to increase the pace of its transformation. Shares closed almost 4% higher.
Daily Report 08.03.2018
08.03.2018 | NBS: Meeting of the NBS Executive Board postponed; Serbia to enhance cooperation with Albania after 30 years – Ministers of agriculture announce two agreements; Continental opens Center for Research and Development in Novi Sad – Germans to employ another 500 workers; Large dividend payers in Slovenia report profit this week - the outlook for dividends looks good Zavarovalnica Triglav (ZTVG) generated a net profit that enables the payment of a dividend of EUR 2.5. This means dividends yield on the dividend 7.68 percent. Good results have been published by Petrol (PETG), which indicate a 10 percent increase in dividends compared to the previous year, which would amount to about 4.6 percent dividend yield at present market price. This week we expect the annual report of the company SavaRe, whose shares also tend to bear more than four percent dividend yield.; SBITOP lost 0.12 percent reaching 809.49 points; Grupa Petrol ima 495 benzinskih stanica, od čega 317 u Sloveniji, 106 u Hrvatskoj, a ostale u BiH i Srbiji.; Stocks rally off lows, Nasdaq closes positive after White House hints Canada, Mexico could be exempt from tariffs, European stocks close higher after EU threatens US with tariffs, Renault briefly pops 8%
Daily Report 07.03.2018
07.03.2018 | EBRD's new five-year strategy for Serbia – Expected growth in 2018 amounts to 2.9%; American companies interested in infrastructural projects in Serbia; Higher GDP, employment growth key challenges for 2018, PM says; SBITOP gained 0.43 percent; The Koper container terminal from today with a new connection to Munich; Part of the EU funds for the second track could be used by the Directorate for Infrastructure instead of 2TDK; Stocks close higher but investors remain on edge over tariffs debate, Europe ends slightly higher despite Italy uncertainty, US tariff concerns
Daily Report 06.03.2018
06.03.2018 | Serbian capital market awakening – First IPO drawing closer, crowdfunding platform for startups and small companies soon; Serbian legislature to harmonize with EU acquis by the end of 2021; Serbia negotiates about 29,000 of new jobs; SBITOP lost 0.37 percent; Triglav Group in 2017: Profit Above the Budgeted Level, Performance Impacted by Higher Claims, Reporting Year Marked by Strategic Development Activities; Dow closes 336 points higher as trade-war worries ease, Europe ends on a high note despite Italy's political uncertainty, AXA sinks 9.7%
Daily Report 05.03.2018
05.03.2018 | Serbian banks' NPL ratio falls to 11.1% at end of November; ENHL: Energoprojekt Niskogradnja and Colas Rail to lay down tracks on Ada Bridge – Tram traffic to open no sooner than in July 2019; Serbia and China negotiating about new air route; SBITOP down 0.13% on Friday, while gaining 0.02% w/w; S&P 500 and Nasdaq close higher as health care jumps, but snap 2-week winning streaks, Europe tumbles by the close as Trump’s tariff announcement spooks investors
Daily Report 02.03.2018
02.03.2018 | NIIS: NIS reported RSD 27bn in FY 2017 net profit, up 80% y/y; Dialogue between Belgrade authorities and IMF on future goals to begin in mid-March; German carmaking giant to make big investment in Serbia?; SBITOP moved down by 0.82 percent; GDP up by 6.0 percent in the fourth quarter of 2017 and by 5.0 percent in 2017; Dow closes more than 400 points lower after Trump says steel and aluminum tariffs comingEurope finishes deep in the red amid mixed earnings
Daily Report 01.03.2018
01.03.2018 | Serbia's GDP grows 2.5% in Q4; Serbian industrial output in January 2018, up 10.6% y/y; BELEX ends February in red; SBITOP index gained 0.89 percent yesterday; Dow closes 380 points lower, snaps longest monthly win streak since 1959, European stocks close lower on Powell’s comments, ITV down 7.6%
Daily Report 28.02.2018
28.02.2018 | NBS: Annual inflation expected at 3% for one year ahead period; CCNB: Halkbank increases capital by EUR 20 million – Turks own 99.94% share; AERO: Belgrade Airport reported nearly flat FY 2017 net profit at RSD 3.2bn; SBITOP gained 0.14 percent; MF grants primary dealerships to four banks to issue additional bonds; Dow falls 299 points after Powell signals Fed will keep raising rates to contain inflation, European stocks close in the red amid earnings, Powell testimony, Sky surges 20.5%
Daily Report 27.02.2018
27.02.2018 | Share of grey economy in Serbia lowered to 15.4% of GDP – Cashless payments reducing room for non-transparent transactions; First public call for Nis-Pristina highway possibly to open by the end of 2018; Serbia and Bulgaria sign memorandums on cooperation in rail and water transport – Joint application for EU funds enabled; SBITOP closed 809.46 points; Mlinotest with 1.7 million of net profit; SURS: In 2017 tourists generated almost 12 million overnight stays; Dow rallies nearly 400 points, European markets close higher as focus shifts to data, politics,
Daily Report 26.02.2018
26.02.2018 | NIIS: NIS rescheduled earnings report for 1st March; KMBN: Komercijalna Banka reported RSD 7.18bn in 2017 pre-tax profit; NBS: Annual inflation in January at 1.9%; SBITOP lost less than half a percentage point; Jozef Kausich new CEO of Intesa Sanpaolo; Dow rallies 347 points as stocks close higher for the week, Europe markets close mixed amid corporate earnings, Valeo down 11%
Daily Report 23.02.2018
23.02.2018 | EIB to provide 20 mln euro SME loan guarantee facility to Serbian banks; Serbia successfully completes three-year arrangement with International Monetary Fund – New program not to be financial; EIB analyzing feasibility of Nis-Merdare-Pristina highway – Approval for first section worth EUR 240 million in the second half of 2018; SBITOP lost 0.27 percent; Nasdaq closes lower for fourth straight day, S&P 500 hangs on to slight gain, European markets recover losses by close, Barclays up over 4%