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 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