Daily Report 03.06.2019
Datum objave: 03.06.2019
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
Stocks fell on Friday as investors feared President Donald Trump’s surprise threat of tariffs on all Mexico imports, amid a worsening trade war with China, could risk sending the U.S. economy into a recession. The Dow Jones Industrial Average closed 354.84 points lower at 24,815.04, while the S&P 500 slid 1.3% to 2,752.06. The Nasdaq Composite dropped 1.5% 7,453.15. The S&P 500 ended the month down 6.6% as volatility spiked after trade talks fell apart with China and rhetoric on both sides worsened in May.
Shares of GM dropped 4.25% on Friday. Ford lost 2.3%. Both have significant production in Mexico that could be subject to tariffs. Shares of railroads Kansas City Southern and Union Pacific also fell 4.5% and 2%, respectively. Fiat Chrysler closed 5.8% lower. Corona and Modelo beer maker Constellation Brands slid 5.9%.
The pan-European Stoxx 600 finished provisionally down 0.8% having earlier hit its lowest point since February 19. Autos led the losses with a 2% drop as all but two sectors traded in the red. Utilities stocks were the best performer, up 0.22% during Friday trade.
In terms of individual stocks, German payments company Wirecard traded 8.4% lower after a German newspaper Handelsblatt reported that the firm was among companies to have processed payments for a network of fraudulent trading websites.
Wizz Air shares fell 2.2% despite posting net profit Friday of 292 million euros ($325 million) in the 12 months to March 31.
KMBN: Public call for statements of interest in purchasing Komercijalna Banka opens
The Ministry of Finance of the Republic of Serbia has opened a public call for the collection of statements of interest in participating in the sale of shares of Komercijalna Banka a.d. Beograd. As said in the text, the ministry invites all interested local and foreign legal entities that meet the requirements. The main criteria is that the potential purchaser has been active in banking in the past three years and that the value of the total assets pertaining to the banking activities exceeded EUR 1 billion at the end of 2018. The deadline for the submission of statements of interest is June 21, 2019.
Serbia's GDP 2.5% up y-o-y in real terms in Q1 2019
Serbia's GDP saw a 2.5% y/y growth in real terms in Q1 2019, the national statistical office RZS said Friday. According to seasonally adjusted GDP data, gross domestic product increased by 0.3 pct in the first quarter of 2019, compared to the previous quarter. A real growth in the gross value added was recorded in the section of construction - 12.3 pct, the section of wholesale and retail trade; repair of motor vehicles and motorcycles; transportation and storage and accommodation and food service activities - 5.8 pct and the section of information and communication - 4.9 pct.
SORS, NBS: Industrial output in April down 0.8% y/y
Industrial production in April was 0.8% lower y-o-y, SORS reported. Manufacturing rose 1.8% s-a in April relative to March, while in y-o-y terms it dipped 0.5%. Within manufacturing, more than one half of the branches (14 of the 24) recorded production growth in April compared to the same month a year earlier.
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