Daily Report 10.06.2019
Datum objave: 10.06.2019
Dow jumps 260 points, posts best week since November after jobs report spurs rate-cut hopes; European stocks close higher as weak US jobs data points to potential Fed rate cut
Stocks jumped on Friday, building on strong weekly gains, as weak economic data increased the odds of easier monetary policy from the Federal Reserve. The Dow Jones Industrial Average closed 263.28 points higher at 25,983.94, led by gains in Microsoft and Apple. The S&P 500 climbed 1% to 2,873.34 as the tech sector outperformed. The Nasdaq Composite gained 1.7% to 7,742.10.
The U.S. economy added 75,000 jobs in May, marking the second time in four months that jobs growth totaled less than 100,000. Economists polled by Dow Jones expected an increase of 180,000 jobs. Wage growth also slowed.
European stocks closed higher Friday as disappointing U.S. nonfarm payroll figures boosted speculation of an interest rate cut from the Federal Reserve.
The pan-European Stoxx 600 closed provisionally up almost 0.9%, technology stocks leading gains with a near 2% rise as all sectors were in positive territory.
In terms of individual stocks, Danish biotech giant Novozymes plunged nearly 7% after it downgraded its outlook, while shares of Dutch insurer ASR Nederland climbed to the top of the Stoxx 600 with a more than 6% rise.
NBS: NBS keeps key policy rate at 3%
The National Bank of Serbia (NBS) Executive Board on Thursday decided to keep the key policy rate at 3 pct. "In making the decision, the Executive Board was guided primarily by the outlook for inflation and its factors in the domestic and international environment. Keeping the key policy rate on hold, the Executive Board stated that inflation has been firmly under control for six years in a row and that it will remain so going forward. Consistent with NBS expectations and announcements, y-o-y inflation continued to move within the target band (3.0±1.5 pct), measuring 3.1 pct in April.
Fabrizi: Serbia has achieved good macroeconomoc results
Over the past year, Serbia has made major progress towards achieving macroeconomic stability and creating conditions for economic growth, but progress in the areas of public procurements, protection of competition and freedom of the media must be accelerated, the head of the EU Delegation to Serbia Sem Fabrizi said Friday. At a presentation of the EU's latest Serbia Progress Report, hosted by the Chamber of Commerce and Industry of Serbia, Fabrizi said good macroeconomic indicators, including a decline of public debt, a budget surplus and stable inflation, were creating conditions for a 3-4 pct GDP growth in Serbia in 2019 and the years to come.
NIIS: Antic signs agreement on natural gas power stations
Serbian Minister of Energy and Mining Aleksandar Antic signed with Russia's Gazprom Energoholding on Friday in St Petersburg an agreement on construction of natural gas power stations in Serbia. "We also discussed the petrochemical plant since NIS - and Gazprom Neft - are showing strong interest in the petrochemical plant. We will continue discussions about possibilities of the process being defined through a strategic partnership," Antic told Tanjug at the St Petersburg International Economic Forum (SPIEF). For Serbia, it is important to find a partner for the petrochemical plant that will ensure strong investment and make the plant successful and sustainable regardless of potential turbulences resulting from crude oil prices, he said.
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