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 20.09.2019
20.09.2019 | S&P 500 closes flat, hovering near record high; European markets close higher amid Fed easing; Bank of England holds rates; Serbian GDP up 4.4% in July; EIB ready to fund projects in Serbia's new investment cycle; FINT: Serbia's renewable energy sources potential totals 50,000 GWh
Daily Report 19.09.2019
19.09.2019 | Stocks close flat as Fed fails to clearly signal more rate cuts in 2019; European markets close slightly higher ahead of Fed rate decision; Serbian businessman possible mystery buyer of Kras shares – paper; German SMEs coming to Serbia; Botsan-Kharchenko: Good news about TurkStream
Daily Report 18.09.2019
18.09.2019 | Stocks rise slightly ahead of the Fed’s decision on interest rates; European stocks close slightly lower as oil plummets; Fed meeting in focus; NIS stocks rise on BELEX following dividend payout; China's Huawei eyes development of data centre in Serbia; Countercyclical buffer rate for the Republic of Serbia kept unchanged
Daily Report 17.09.2019
17.09.2019 | Dow snaps 8-day winning streak on fears spiking oil will slow the global economy; European stocks close lower amid geopolitical tensions; oil shares spike 3%; KMBN: Privatization of Komercijana attracted three banks and one fund; 120 mln euros of budget funds for Morava Corridor; As early as of December, the average salary will amount to 500 euros"
Daily Report 16.09.2019
16.09.2019 | Dow notches 8-day winning streak, nears record on growing optimism around US-China trade; European stocks close higher after aggressive ECB stimulus; banks up 2%; Declining industrial output in eurozone affecting Serbia; Gov't sets 2020 minimum monthly wage at 30,022 dinars; EBRD to credit small and medium companies in Serbia with EUR 160 million
Daily Report 13.09.2019
13.09.2019 | Dow posts 7-day winning streak, inches closer to record after tariff delay and ECB rate cut; European stocks close higher as ECB launches new stimulus plan; NBS: Key policy rate kept on hold; SORS: Annual inflation in august at 1.3%; Agreement worth EUR 100 million signed with EIB on construction of Nis-Merdare highway
Daily Report 12.09.2019
12.09.2019 | Dow jumps more than 200 points, closes above 27,000 for the first time since July; European stocks close higher ahead of central bank meetings; NBS: FX reserves in August at EUR 13bn; Serbia, Czech Republic sign agreements on cooperation; Talks underway about Czech company coming to Serbia
Daily Report 11.09.2019
11.09.2019 | Stocks close little changed as tech shares and Ford weigh on the market; European stocks erase earlier losses to close slightly higher; KMBN: Bids for sale of shares of Komercijalna Banka opened – Second selection phase in November; Minimum wage in Serbia to be RSD 30,022 from 2020; Serbia attracts 1.9 bln € worth of FDI in first half of 2019
Daily Report 10.09.2019
10.09.2019 | Dow posts 4-day winning streak amid trade optimism; European stocks close mainly lower as investors eye Brexit battle and stimulus hopes; Agreement on construction of Nis-Pristina highway to be signed on Thursday – Construction of section to Plocnik to begin in 2020; China's Zijin Mining Co to build new plant in Majdanpek; NIS to payout cash dividend on 16th September
Daily Report 09.09.2019
09.09.2019 | Stocks close little changed after disappointing jobs report, but rise for a second straight week; Europe closes higher as investors monitor Brexit uncertainty; KMBN: Serbia to buy Komercijalna banka shares owned by EBRD, IFC - four non-binding bids had been received; Moody’s Upgrades Serbia’s Rating Outlook; Mali, Petrovic discuss draft 2020 budget