Daily Report 06.05.2019
Datum objave: 06.05.2019
Average net salary in Serbia RSD 52,426
Average gross salaries and wages calculated for February 2019 amounted to RSD 72,350, while average net salaries and wages amounted to RSD 52,426, according to the Statistical Office of the Republic of Serbia. Median net salaries and wages for February 2019 amounted to RSD 40,308, meaning that 50% of employees realized wages and salaries up to the mentioned amount.
KMBN: Komercijalna reported lower 1Q19 net profit, net interest income & FC income nearly flat y/y
Komercijalna Banka reported RSD 1.66bn in its 1Q19 net profit, down 12% y/y on higher other costs, while net interest income and net F&C income were basically flat y/y. Credit activity stagnated, while total assets remained at very similar level seen at the end of 2018. Privatization tender is expected to be declared in mid-June.
Source: KMBN, Ilirika
Fitch Ratings confirms Serbia's credit rating
The credit rating agency Fitch Ratings has affirmed Serbia's Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDR) at 'BB," the National Bank of Serbia said on Saturday, adding that the agency said Serbia's outlook is stable. The agency said that the decision to confirm the stable outlook for increasing Serbia's credit rating was based on the continuity of the economic policy, aimed at further strengthening macroeconomic indicators and reducing public debt. The agency also noted the anchoring of inflationary expectations and expectations that inflation in Serbia will be kept within the limits of the National Bank's goal in the coming period.
Dow jumps 190 points after unemployment falls to lowest in half century, Amazon shares gain, Europe markets close higher after US jobs data
Stocks rose on Friday, rebounding from a two-day loss, as data showed U.S. job creation was stronger than expected in April. The Dow Jones Industrial Average rose 197.16 points to 26,504.95, while the S&P 500 rose nearly 1% to 2,945.64, posting its biggest gain since April 1. The Nasdaq Composite climbed 1.6% higher to hit a record high of 8,164. Shares of Amazon got a boost from an investment by Warren Buffett’s Berkshire Hathaway.
Friday’s rally was led by Amazon, whose stock rose for the first time in five days after Buffett told CNBC Thursday that one of his investment managers at Berkshire Hathaway has been buying Amazon. Shares of the e-commerce giant were up 3.2% Friday.
European stocks were higher Friday afternoon, as investors digested payrolls data in the U.S. The pan-European Stoxx 600 Index closed provisionally up around 0.4% during Friday trade, with most sectors and major bourses in positive territory.
Germany’s Adidas surged toward the top of the European benchmark Friday, after the sports brand reported a 17% rise in first-quarter net profit. Shares jumped more than 8% on the news, hitting a new record high. Looking at individual stocks, Societe Generale was also trading higher. It comes after France’s third-largest bank said its restructuring plan — launched after a market meltdown in the final three months of 2018 — was starting to bear fruit. However, the lender reported a first-quarter profit dive of 26% when compared to the same period a year earlier. Shares rose nearly 1.5% Friday.
Daily Report 10.06.2019
10.06.2019 | Dow jumps 260 points, posts best week since November after jobs report spurs rate-cut hopes; European stocks close higher as weak US jobs data points to potential Fed rate cut; NBS: NBS keeps key policy rate at 3%; Fabrizi: Serbia has achieved good macroeconomoc results; NIIS: Antic signs agreement on natural gas power stations
Daily Report 06.06.2019
06.06.2019 | Dow rallies 200 points as stocks surge for a second day on hope the Fed will cut rates; European stocks close mostly higher; Italian banks fall on EU ruling; China Railway International seeking subcontractors for works on Belgrade Center-Stara Pazova section; World Bank retains 3.5% growth projection for Serbia; PepsiCo confirms it will acquire Knjaz Milos with KMV
Daily Report 05.06.2019
05.06.2019 | Dow rallies more than 500 points ; European markets close higher as autos climb 3.2%; Serbia-EAEU trade deal may be signed by end-2019; NBS: Dinar grows stronger with confidence of important investors; ENHL: Energoprojekt contracted two jobs in Serbia worth EUR 21m
Daily Report 04.06.2019
04.06.2019 | Nasdaq drops more than 1%, enters correction territory as regulation fears batter big tech; European markets close higher after Wall Street erases losses; KMBN: Komercijalna Banka might be sold for EUR 415 million; Serbian import rises still faster vs. export; Unemployment in 1Q19 ta 12.1%
Daily Report 03.06.2019
03.06.2019 | KMBN: Public call for statements of interest in purchasing Komercijalna Banka opens; Serbia's GDP 2.5% up y-o-y in real terms in Q1 2019; SORS, NBS: Industrial output in April down 0.8% y/y; Dow drops more than 350 points after Trump threatens new tariffs on Mexico, posts 6-week slide; European markets close lower after Trump stokes recession fears; Stoxx 600 hits 3-month low
Daily Report 31.05.2019
31.05.2019 | Stocks rise slightly, but trade and economy worries persist; European markets close higher; Axel Springer leaps on KKR investment talks; MTLC: Metalac reported slightly higher consolidated sales and 7% lower net profit, for 2018; EC: Strong investment activity supports growth of Serbian economy; Minimum wage to be increased in September
Daily Report 17.05.2019
17.05.2019 | ENHL: Energoprojekt reports EUR 346m backlog; NBS: Foreign direct investments in Serbia amount to EUR 1.2 billion in the first four months; JESV: Jedinstvo reported higher quarterly sales and lower net profit; Dow jumps more than 200 points, posts 3-day winning streak, boosted by bank shares and Walmart; European stocks close higher as trade fears fade
Daily Report 13.05.2019
13.05.2019 | Agreement on sale of Port of Novi Sad to P&O Port Dubai for EUR 7.99 million signed; IMF mission opens official discussions with Serbian delegation; 88 pct of AHK members would invest in Serbia again – survey; Dow stages 450-point comeback, ends the day higher after Trump says China trade talks to continue, Europe stocks close higher despite US tariff hike on Chinese goods, Thyssenkrupp rises 28%
Daily Report 10.05.2019
10.05.2019 | State sells its share in Jubmes Banka to Alta Pay Group at the stock exchange; Serbia's c-bank keeps key rate unchanged at 3.0%; 15 state-owned companies to be sold by end of year; Dow falls 140 points, S&P drops for a fourth day as new China tariffs set to kick in at midnight, European markets slide as trade fears mount, autos down more than 3%
Daily Report 09.05.2019
09.05.2019 | EBRD sees steady growth in Western Balkans – Montenegro and Serbia fastest growing economies in the region in 2018; Construction of Preljina-Pozega highway section to begin on May 17; IMF to recommend increase in price of electricity by up to 5%?; Stocks close little changed in volatile trading day as investors unsure of trade deal outcome, European stocks close higher as White House says China wants to make trade deal