Daily Report 09.05.2019
Datum objave: 09.05.2019
EBRD sees steady growth in Western Balkans – Montenegro and Serbia fastest growing economies in the region in 2018
The EBRD expects continued steady economic growth in the six Western Balkan countries in 2019, despite a cooling international economic environment which may see the pace of growth slowing in some countries in the region. Growth in Serbia quickened to 4.3% in 2018 after just 2% growth in 2017, as a result of further recovery of domestic demand and strong exports. Growth is expected to slow down to 3.5% in 2019 and then inch back up to 3.8% in 2020, with private consumption, investment and exports remaining the main growth drivers, with offsetting effects coming from higher imports.
Construction of Preljina-Pozega highway section to begin on May 17
The works on the construction of the Preljina-Pozega section on Corridor 11 will begin on May 17, Serbian Minister of Construction, Transport and Infrastructure Zorana Mihajlovic announced. At a press conference regarding the agreements and memorandums signed at the second Belt and Road forum, Mihajlovic said that, among other things, the financial agreement on the construction of this section, worth EUR 450 million, was signed in Beijing.
IMF to recommend increase in price of electricity by up to 5%?
The IMF Mission will recommend an increase in the price of electricity by up to 5% from this summer, as the World Bank's analysis for 2018 has shown that the price of a kilowatt in Serbia is among the lowest ones in Europe, Blic writes. The daily writes that there are indications that, due to the social conditions, the Serbian side will insist on the increase being smaller, that is, around 3%. The exact percentage will be known after negotiations with the IMF Mission, which arrives to Serbia on Friday, May 10, led by the new head, Jan Kees Martijn, the daily writes.
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
Stocks failed to rebound from a deep sell-off this week as investors remain on edge about the standoff between the U.S and China over a trade agreement. The Dow Jones Industrial Average finished the day 2.24 points higher at 25,967.33, while the S&P 500 was down 0.16% at 2,879.42 and the Nasdaq Composite fell 0.26% at 7,943.32. The Dow was down 75 points at its intraday low and it swung 153 points higher at its high of the day. The volatile session followed big losses in the previous two days with the Dow falling nearly 540 points in those two sessions.
A disappointing forecast from Intel late in the trading day helped drag down the market. Intel fell 2.46%. The chipmaker said it expects low single-digit revenue growth over the next three years.
Ride-hailing company Lyft's stock slid 10.84% Wednesday after the company reported a heavy loss for its first quarterly earnings report as a public company. Some Wall Street analysts still believe the results were "a good first step' to profitability."
European stocks closed higher Wednesday after President Donald Trump said China would visit the U.S. to make a trade deal. The pan-European STOXX 600 index was 0.22% higher at the closing bell, paring losses seen earlier in the session. All major bourses were in positive territory.
Siemens surged toward the top of the index after the German company posted better-than-expected operating profit on Wednesday. Shares gained around 4.5% after the company's results showed profit rose 7% to 2.4 billion euros ($2.69 billion) in the three months to March 31, beating estimates of 2.24 billion euros in an Infront data poll.
Daily Report 23.08.2019
23.08.2019 | Dow rises slightly ahead of big speech from the Fed chief; European stocks close lower amid recession fears; investors await Fed clarity; MTLC: Metalac reports 6% higher consolidated 6M19 sales, while net profit drops 6.5% y/y; Serbia, EAEU to sign free trade deal on October 25 - Russian ambassador; Serbia's Sojaprotein says backs Victoria Group buyout bid
Daily Report 22.08.2019
22.08.2019 | Dow jumps more than 200 points, Target and Lowe's surge on strong earnings; European stocks close higher as investors await Fed minutes; Government plans to reduce tax burden on wages; Agreement with CRBC on construction of Fruska Gora Corridor to be signed by Spring 2020; Knjaz Milos acquired by Mattoni 1873, PepsiCo
Daily Report 20.08.2019
20.08.2019 | Dow rallies more than 200 points as Wall Street continues rebound from August sell-off; European stocks close higher as policy stimulus hopes grow; Greene King up 51%; New motorways could attract investors to southwestern Serbia; Almost 85% of new factories opened along Corridor 10; MTLC: Metalac to report consolidated 6M numbers on Thursday, 22th August
Daily Report 19.08.2019
19.08.2019 | Dow rallies 300 points to end another wild week on Wall Street; European stocks close higher, ending a volatile week for global equity markets; ENHL: Energoprojekt 115. on the list of largest design companies; The pipeline pushed the value of June's building permits; Dinar against the euro 117.77 today
Daily Report 16.08.2019
16.08.2019 | Dow rises 99 points led by Walmart, rebounding from worst day of 2019; European stocks close lower in choppy session; ENHL: Energoprojekt reported improved financial performances for 6M 2019; MTLC: Metalac reported non-consolidated numbers, suggesting low single digit growth in 2019 is most realistic; JESV: Jedinstvo posted jump in sales&net profit in 6M19 period
Daily Report 15.08.2019
15.08.2019 | Dow tanks 800 points in worst day of 2019 after bond market sends recession warning; European stocks close sharply lower on weak data, bond market recession warnings; FITO: Galenika Fitofarmacija made 1.1 billion dinars net profit in 1H19, down 9.8% y/y; PLNN: Planinka buys Kursumlijska Spa – Grand opening by end of 2020, necessary investments exceed EUR 10 million; NBS: Inflation remains stable at about 2.0% next two years
Daily Report 14.08.2019
14.08.2019 | Stocks jump led by Apple after US delays some China tariffs; European stocks close higher as US delays China tariffs on phones and clothing; Serbia takes first place in greenfield direct foreign investments globally; Fiat to manufacture seven-seater SUV based on "tipo" model in Kragujevac; Victoria offers RSD 180 per share for remaining stake at Sojaprotein
Daily Report 13.08.2019
13.08.2019 | Dow drops 390 points and slips back below 26,000 as bond yields decline; European stocks close lower amid trade war worries; Tullow Oil up 20%; NBS: FX reserves at EUR 12.7bn in July; NBS: Annual inflation in July at 1.6%; EUR 12 billion for investment plan, investments to be made in utility, transport, energy digital infrastructure and tourism
Daily Report 12.08.2019
12.08.2019 | Stocks fall on renewed trade war fears as Wall Street concludes volatile week; European stocks close lower as Italian banks plunge on political turmoil; Autos down 2.5%; Dinar to hit record high on Monday at 117, 6809 for one €; Talks on Belgrade-Bar railroad with Montenegro; Government again gives 21 million euro to Air Serbia
Daily Report 09.08.2019
09.08.2019 | Stocks rally, pushing S&P 500 into positive territory for the wild week; European stocks close higher as sharp fall in global bond yields stabilizes; Serbia's c-bank cuts key repo rate to 2.5%; Turnover through instant payments in July RSD 8 billion; Investment cycle to result in 5% GDP growth