Daily Report 17.05.2019
Datum objave: 17.05.2019
ENHL: Energoprojekt reports EUR 346m backlog
Energoprojekt reported value of its backlog at EUR 346m. The company published 1Q19 numbers for its parent unit, but this is from low importance. Overall EUR 273, of new jobs is planned to be contracted in 2018, while EUR 34m has been acquired in 1Q19 period, the same report says.
Source: Belex, Ilirika
NBS: Foreign direct investments in Serbia amount to EUR 1.2 billion in the first four months
Foreign direct investments in Serbia amounted to EUR 1.2 billion in the first four months of 2019, up by 14% from the same period in 2018, the Governor of the National Bank of Serbia (NBS), Jorgovanka Tabakovic, stated today. Serbia’s economy has become more attractive to investors mainly owing to the improved business climate and favorable financial conditions, while the implementation of infrastructure projects has also accelerated – Tabakovic said at a press conference at the NBS.
JESV: Jedinstvo reported higher quarterly sales and lower net profit
Jedinstvo Sevojno (JESV), infrastructural &construction company, reported RSD 573m in its 1Q19 non-consolidated sales, up 16% y/y. This is in line with company’s announcement about higher expected sales in 2019. Operating profit was also fine, with 57% jump, even though still small in absolute numbers at RSD 22.7m. Net profit was down 21%, mainly due to worse financial result. Overall, these numbers should be taken with a reserves since fluctuations are huge among different quarters, while full year amount should be expected in a range seen in 2017 – RSD 200-250m.
Source: Belex, Ilirika
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
Stocks rose on Thursday as sentiment was boosted by strong earnings from Walmart and Cisco Systems while banks climbed on higher rates. The Dow Jones Industrial Average traded 193 points higher as Walmart and Cisco outperformed. The S&P 500 gained 0.8% while the Nasdaq Composite advanced 0.9%.
Walmart shares rose 2.5% after the retailer posted first-quarter earnings for fiscal 2020 that topped analyst expectations. The company said it is in a “good position” to meet its goals for 2019 despite tough comparisons for the second quarter.
Cisco Systems also reported better-than-expected quarterly earnings, sending its stock up 6.9%. The company issued stronger-than-forecast revenue guidance as well.
Shares of Citigroup, J.P. Morgan Chase, Bank of America, Morgan Stanley and Goldman Sachs all gained more than 1%. Banks rose as the benchmark 10-year Treasury yield climbed back above 2.4% on stronger-than-forecast data. Housing starts for April topped expectations while weekly jobless claims dropped more than expected.
European stocks traded higher Thursday as markets recovered from an early rattle caused by U.S. President Donald Trump’s renewed targeting of Chinese tech firm Huawei. The pan-European STOXX 600 hit a day high just around the close of trade. The STOXX 600 closed provisionally up by around 1.2%, Chemicals leading the gains with a 2.54% climb, while autos struggled to make headway, slipping 0.6%.
Thyssenkrupp was the strongest performer, its stock rising 10.03% on reports that Finland’s Kone is assessing the viability of a bid for the German industrial company’s elevators division. Kone shares traded 4.98% higher.
In corporate news, Italian insurer Generali reported first-quarter net profit of 744 million euros ($833.8 million), a 28% rise, boosted by growing operating results and sales of businesses. The company’s shares traded around 0.4% lower.
Daily Report 06.09.2019
06.09.2019 | Dow jumps more than 350 points after China and US agree to trade talks next month, tech leads gains; European stocks close higher on global trade and political reprieve; Demand for loans to businesses rises, funds go to investments; FT: Serbia attracts record greenfield FDI; Serbian finance minister says salaries and pensions will rise
Daily Report 05.09.2019
05.09.2019 | Dow jumps more than 200 points as Hong Kong tensions ease, tech shares rally; European stocks close higher as Brexit chaos rumbles on and Hong Kong tensions ease; Serbia's end-July budget surplus at 48.5 bln dinars; EPS Serbia's largest company, NIS most successful; Serbia's public debt at 51.9 pct of GDP at end-July
Daily Report 04.09.2019
04.09.2019 | Stocks begin September with a big drop amid new US-China tariffs, weak US manufacturing data; European stocks close lower as UK prepares for Brexit showdown; Retail trade turnover up 9.3% in July; Unemployment at 10.3%; Serbian NPLs at 4.98% - lowest level since 2008; JMBN: Jubmes banka posts half-year profit
Daily Report 02.09.2019
02.09.2019 | Stocks close little changed as Wall Street wraps up volatile August; Europe closes higher on signs of trade war easing; Italy stocks falls; Deutsche Wohnen up 9%; Bloomberg about Serbia: Fortune buried in a forgotten corner of Europe; Majority of Serbian water companies owned by foreigners; Serbia had to ensure exit strategy for the Agreement with Eurasian Union;
Daily Report 30.08.2019
30.08.2019 | Dow surges more than 300 points after China hints it won’t retaliate for now in trade war; Europe stocks close higher as China says it wants ‘calm’ trade resolution; Micro Focus down 31%; NIIS: NIS invests in lab upgrade; Serbian unemployment rate down to 10.3 pct; Invej takes over 18.4% of Milan Blagojevic shares
Daily Report 29.08.2019
29.08.2019 | Dow rises more than 250 points, energy shares get a boost from oil prices; Europe stocks close lower; IMF demands for electricity price to be permanently tied to inflation; Tencent mulls launch of data centre in Serbia - govt; New Fiat 500 Giardiniera to be produced in Kragujevac
Daily Report 28.08.2019
28.08.2019 | Dow drops more than 100 points as bond-market recession indicator, trade worries worsen; European stocks close mostly higher as China considers relaxing auto restrictions; FDI into Serbia rises 31% y/y in H1; Bechtel-Enca consortium only bidder for construction of Morava Corridor; Serbian June’s average net salary 53,633 dinars, 7.4% up
Daily Report 27.08.2019
27.08.2019 | Dow gains more than 250 points on hopes US and China restart trade talks; European stocks close flat as Trump signals US-China trade talks will resume; Deadline for submission of bids for the sale of Komercijalna Banka moved; Serbia to invest up to 2.4 bln euro in road linking Corridors X, XI; Opening of bids for Morava Corridor, today – Works to begin as soon as September
Daily Report 26.08.2019
26.08.2019 | Dow plummets more than 600 points after Trump orders US manufacturers to leave China; European stocks close lower as US-China trade tensions escalate; JESV: Jedinstvo reports much higher consolidated sale and lower net profit; Serbia becomes 73rd non-regional member of Asian Infrastructure Investment Bank; Wage, pension increases must wait for IMF mission – economists
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