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 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