Daily Report 04.06.2019
Datum objave: 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
Tech stocks fell on Monday, June’s first day of trading, amid reports that the U.S. government is planning to target a host of big companies in the industry with antitrust and business practice probes. Shares of Alphabet, Amazon, Facebook and Apple all weighed on the market during Monday’s session.
The Nasdaq Composite dropped 1.6% to enter correction territory, closing more than 10% below its record high set in late April at 7,333.02. The S&P 500 slid 0.3% to 2,744.45 while the Dow Jones Industrial Average ended the day just above breakeven at 24,819.78.
Alphabet shares pulled back 6.1% after reports said the Justice Department is preparing to launch an antitrust probe on Google. Meanwhile, Facebook dropped 7.5% after The Wall Street Journal reported the Federal Trade Commission would be able to look into Facebook’s practices and how they impact digital competition.
European stocks see-sawed Monday, as fears over the current state of global trade remained in place. Sharp early losses were erased during the afternoon session. The pan-European Stoxx 600 finished provisionally up 0.31% by the closing bell. Stocks in the baskets of Chemicals and Basic Resources performed well on average while Banks, Travel & Leisure and Technology struggled.
In terms of individual stocks, shares of German semiconductor manufacturer Infineon Technologies fell 8% after it announced a deal to acquire U.S.-based Cypress Semiconductor Corporation. Cypress shares jumped 25% in the U.S. following the deal.
German digital payments company Wirecard saw its stock climb 3.1% after its CEO Markus Braun tweeted that the company was “steering towards an outstanding first half year of 2019.”
KMBN: Komercijalna Banka might be sold for EUR 415 million
Half a million euros is the value set by the Government of Serbia for 100% of the capital of Komercijalna Banka, whose sale is planned to take place by the end of the year, Blic reports, citing unnamed sources. Considering that up to 83.2% of the bank's capital is offered, the bank might be sold for about EUR 415 million, which is around EUR 15 million more than the bank's current market price at the Belgrade Stock Exchange. As an unnamed source told the daily, in that case, the ratio between the market price and the book value of a share is 0.85, a good price in today's circumstances
Serbian import rises still faster vs. export
Official statistics indicate that exports of goods went up by 7.3% y-o-y in the period January–April, led by the rise in manufacturing exports (5.2%), recorded in 16 of the 23 branches, as well as by the upswing in agricultural exports (42.4%). At the same time, imports expanded by 9.0% y-o-y, buoyed by higher imports of raw material and equipment.
Unemployment in 1Q19 ta 12.1%
Based on the Labour Force Survey, the unemployment rate in Q1 2019 was 12.1%, 2.7 pp lower than in the same period a year earlier. At the same time, the employment rate climbed by 2.3 pp, to 47.4%, while the participation rate of working age population edged up by 1.4 pp, to 67.2%.
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