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 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