Daily Report 13.05.2019
Datum objave: 13.05.2019
Agreement on sale of Port of Novi Sad to P&O Port Dubai for EUR 7.99 million signed
The agreement on the privatization of the Port of Novi Sad was signed today, May 10, at the Government of Serbia by the state secretary at the Ministry of Economy, Dragan Stevanovic, and the CEO of P&O Port Dubai from the UAE, Rado Antolovic. The commission of the Ministry of Economy for the execution of the procedure of the privatization of the Port of Novi Sad declared the financial offer of P&O Port Dubai for the purchase of the Novi Sad-based company successful in late March. The port was sold at the initial price of EUR 7.99 million.
IMF mission opens official discussions with Serbian delegation
Official discussions between representatives of the Republic of Serbia and an International Monetary Fund (IMF) mission opened on Friday with a plenary meeting at the National Bank of Serbia (NBS). The Serbian delegation is headed by NBS Governor Jorgovanka Tabakovic, who is also the Governor of the IMF for Serbia, and Finance Ministry officials also took part in the discussions, the NBS said in a statement. The IMF delegation, headed by new mission head Jan Kess Martijn, will be in Belgrade until May 21 for discussions on a second biannual review under the Policy Coordination Instrument along with consultations under Article IV of the IMF Articles of Agreement.
88 pct of AHK members would invest in Serbia again – survey
German and Serbian companies in the German-Serbian Chamber of Commerce (AHK) see the business climate in Serbia as positive and 88 pct of them would invest in Serbia again, according to the results of the latest AHK survey. Companies that took part in the chamber's 14th survey on business conditions in Serbia said they had positive expectations from their operations and were satisfied with the labour market but noted that more intensive effort was needed to fight corruption and strengthen legal certainty and transparency of public procurements.
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%
Stocks staged a massive reversal on Friday after President Donald Trump said conversations with China over trade will continue and his relationship with President Xi Jinping remains strong. The Dow Jones Industrial Average finished the day 114.01 points higher at 25,942.37, roaring back from a 358-point loss earlier in the session that came in the wake of a tariff increase by the U.S. effective just after midnight. The S&P 500 snapped a four-day losing streak, eking out a 0.37% gain at 2,881.40. The Nasdaq Composite ended the day slightly higher at 7,916.94 after stocks rallied from their lows.
Ride-hailing giant Uber began trading on the New York Stock Exchange Friday at $42 per share, after pricing at $45 per share. The stock finished the day nearly 8% lower.
European stocks closed higher on average Friday despite the U.S. hiking duties on $200 billion worth of Chinese products.
The pan-European STOXX 600 climbed provisionally 0.4% higher, with the export-heavy German DAX index rising by 0.85%. All but three sectors closed in positive territory, with only the autos sector, with its heavy exposure to China, edging below the flatline.
Looking at individual stocks, metal producer Thyssenkrupp surged to the top of the European index after Reuters reported the company was considering a partial listing of its elevator business. The German stock gained 28.4%.
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