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 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