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 10.06.2019
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; NBS: NBS keeps key policy rate at 3%; Fabrizi: Serbia has achieved good macroeconomoc results; NIIS: Antic signs agreement on natural gas power stations
Daily Report 06.06.2019
06.06.2019 | Dow rallies 200 points as stocks surge for a second day on hope the Fed will cut rates; European stocks close mostly higher; Italian banks fall on EU ruling; China Railway International seeking subcontractors for works on Belgrade Center-Stara Pazova section; World Bank retains 3.5% growth projection for Serbia; PepsiCo confirms it will acquire Knjaz Milos with KMV
Daily Report 05.06.2019
05.06.2019 | Dow rallies more than 500 points ; European markets close higher as autos climb 3.2%; Serbia-EAEU trade deal may be signed by end-2019; NBS: Dinar grows stronger with confidence of important investors; ENHL: Energoprojekt contracted two jobs in Serbia worth EUR 21m
Daily Report 04.06.2019
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; KMBN: Komercijalna Banka might be sold for EUR 415 million; Serbian import rises still faster vs. export; Unemployment in 1Q19 ta 12.1%
Daily Report 03.06.2019
03.06.2019 | KMBN: Public call for statements of interest in purchasing Komercijalna Banka opens; Serbia's GDP 2.5% up y-o-y in real terms in Q1 2019; SORS, NBS: Industrial output in April down 0.8% y/y; 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
Daily Report 31.05.2019
31.05.2019 | Stocks rise slightly, but trade and economy worries persist; European markets close higher; Axel Springer leaps on KKR investment talks; MTLC: Metalac reported slightly higher consolidated sales and 7% lower net profit, for 2018; EC: Strong investment activity supports growth of Serbian economy; Minimum wage to be increased in September
Daily Report 17.05.2019
17.05.2019 | ENHL: Energoprojekt reports EUR 346m backlog; NBS: Foreign direct investments in Serbia amount to EUR 1.2 billion in the first four months; JESV: Jedinstvo reported higher quarterly sales and lower net profit; Dow jumps more than 200 points, posts 3-day winning streak, boosted by bank shares and Walmart; European stocks close higher as trade fears fade
Daily Report 13.05.2019
13.05.2019 | Agreement on sale of Port of Novi Sad to P&O Port Dubai for EUR 7.99 million signed; IMF mission opens official discussions with Serbian delegation; 88 pct of AHK members would invest in Serbia again – survey; Dow stages 450-point comeback, ends the day higher after Trump says China trade talks to continue, Europe stocks close higher despite US tariff hike on Chinese goods, Thyssenkrupp rises 28%
Daily Report 10.05.2019
10.05.2019 | State sells its share in Jubmes Banka to Alta Pay Group at the stock exchange; Serbia's c-bank keeps key rate unchanged at 3.0%; 15 state-owned companies to be sold by end of year; Dow falls 140 points, S&P drops for a fourth day as new China tariffs set to kick in at midnight, European markets slide as trade fears mount, autos down more than 3%
Daily Report 09.05.2019
09.05.2019 | EBRD sees steady growth in Western Balkans – Montenegro and Serbia fastest growing economies in the region in 2018; Construction of Preljina-Pozega highway section to begin on May 17; IMF to recommend increase in price of electricity by up to 5%?; Stocks close little changed in volatile trading day as investors unsure of trade deal outcome, European stocks close higher as White House says China wants to make trade deal