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 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