Daily Report 25.06.2019
Datum objave: 25.06.2019
Stocks close little changed with the June rally on hold ahead of US-China trade talks; European stocks close lower amid US-Iran tensions; Daimler profit warning hits autos
Stocks held steady on Monday as investors looked ahead to a key meeting between President Donald Trump and Chinese President Xi Jinping at this week’s G-20 summit. The Dow Jones Industrial Average closed just 8.41 points higher at 26,727.54, while the S&P 500 slid 0.2% to 2,945.35. The Nasdaq Composite closed 0.3% lower at 8,005.70.
Dow member United Technologies rose 1.1% after an analyst at Cowen upgraded the stock to outperform from market perform. Deere shares, meanwhile, climbed 1.6% after being upgraded to buy from neutral at UBS.
European stocks closed lower Monday as investors continued to monitor geopolitical tensions between the U.S. and Iran, with Washington preparing major new sanctions.
The pan-European Stoxx 600 closed provisionally down 0.3%. Auto stocks led the losses with a 1.2% decline following a Daimler profit warning, while only a handful of sectors traded in positive territory.
Daimler cut its 2019 earnings outlook Sunday after lifting provisions for issues related to its diesel vehicles by hundreds of millions of euros, sending auto stocks lower across the continent. The company’s stock was among the worst performers, down nearly 4%.
Cadez: Growth rate 3.5-4 pct over medium term
A positive trend of economic growth is continuing in Serbia and will be at 3.5-4 pct over the medium term, Chamber of Commerce and Industry of Serbia (PKS) President Marko Cadez said in Belgrade Friday. At the opening of a session of the PKS Board of Directors and the PKS Assembly, Cadez said year-on-year economic growth was 2.5 pct in Q1 2019 and that economic activity was expected to pick up by the end of the year. "The main drivers of economic activity in the current year are more intense investment activity and growth of personal consumption. The number of business entities is rising constantly, along with a growth of turnover and volume in the domestic and international markets," he said.
Announced investment cycle to boost GDP – economists
Serbian President Aleksandar Vucic has announced the launch of a new investment cycle worth up to 10 bln euros. Speaking to Tanjug Monday, economists agreed this would accelerate GDP growth, attract even more foreign investors and reduce unemployment. Foreign Investors Council Vice President Vladislav Lalic said the body believed this was "the correct decision that definitely can have a positive effect on the Serbian economy" and that funds should be directed to road and rail transport projects, real estate and a Belgrade metro system.
Serbia launches sale of Jat Tehnika at starting price of 20.5 mln euro
The Serbian economy ministry on Monday launched the privatisation of aircraft maintenance company Jat Tehnika at a starting price of 20.5 million euro ($23.4 million). The ministry is offering for sale 99.38% of Jat Tehnika, which is in the hands of the government and state funds, it said in a privatisation invitation published on its website. Interested bidders can submit their letters of intent to participate in the process by July 31. The economy ministry will open the letters on August 1. It employs some 1,000 people and offers a broad spectrum of maintenance activities such as aircraft maintenance, engine shop maintenance, Non Destructive Testing, services of engineering department and technical training.
Daily Report 16.07.2019
16.07.2019 | Stocks eke out a record close, but Wall Street remains cautious on upcoming earnings reports; Europe stocks close higher after China data meets expectations; Galapagos up 18%; Serbia, France sign 22 agreements; Energoprojekt expects EUR 249m in sales and EUR 8m in FY 2019 profit; May saw 1,822 construction permits issued – value of works up 150%
Daily Report 15.07.2019
15.07.2019 | Dow jumps 240 points to all-time high as Wall Street ends record-breaking week on a high note; European stocks close flat following euro zone, China data; Thomas Cook plunges 60%; NBS: Serbian June consumer prices 0.3 pct down m-o-m; NBS buys 60 mln euros, Monday's rate at RSD 117.7365; Each second apartment in Serbia built illegally
Daily Report 11.07.2019
11.07.2019 | Stocks close higher, S&P 500 hits 3,000 for the first time as Fed chief signals rate cut ahead; European stocks close lower as Powell hints at Fed rate cut; Serbia regional leader in greenfield investments; NBS: June FX reserves at 12.14 bln euros, highest since 2000; Serbia to introduce new salary bands in 2020
Daily Report 10.07.2019
10.07.2019 | Dow posts 3-day slide as Wall Street awaits Powell testimony; European stocks close lower after BASF auto warning; Deutsche Bank falls a further 4%; Serbia's end-May budget surplus at 8.3 bln dinars; Jobless rate to be at around 10% by end-year; European Investment Bank announces Western Balkans priorities
Daily Report 09.07.2019
09.07.2019 | Dow falls more than 100 points as Apple leads tech slide, Wall Street awaits Powell testimony; European markets close lower despite strong US job growth; Deutsche Bank shares fall 5% as restructuring begins; Special law on Morava Corridor adopted – Construction to start soon, works worth EUR 800 million; Smederevo steel mill, Fiat, Tigar Serbia's top exporters; Serbia's public debt at 51.8% of GDP at end-May
Daily Report 08.07.2019
08.07.2019 | Stocks fall from record highs after strong jobs report dampens hope of a Fed rate cut; Europe stocks close lower; Trade unions requesting minimum wage of RSD 32,000 – Employers say RSD 28,600 more realistic; KMBN: NLB and AIK Banka one of the candidates for the takeover of Komercijalna Banka; Telekom Srbija acquires cable operator Telemark
Daily Report 05.07.2019
05.07.2019 | European stocks close subdued as Fed rate cut expectations grow; US markets closed; Serbia to start construction of 400 kilometers of new highways in 2019 – Works on connection with Pristina to begin as well; Chinese company to invest USD 300 million in modernization of Smederevo steel mill by 2021; Fiscal Council: 0.5% fiscal deficit well set
Daily Report 01.07.2019
01.07.2019 | Stocks rise to close out Dow’s biggest June gain since 1938, S&P 500′s best first half in 2 decades; European stocks close higher ahead of Trump-Xi meeting at G-20; SORS: Serbian January-May exports 8.3% up, imports 10.8% up; SORS: Serbian consumption 11% up in January-May 2019; NIIS: NIS GA approved RSD 39.9 per share as a cash divided
Daily Report 28.06.2019
28.06.2019 | S&P 500 snaps 4-day slide as bank shares rise, Wall Street awaits Trump-Xi meeting at G-20 summit; KMBN: Serbia buys Komercijalna banka shares for 43.7 mln euros; Food, non-alcoholic beverages 22 pct cheaper in Serbia than in EU; Money from Komercijalna banka sale to improve living standards;
Daily Report 25.06.2019
25.06.2019 | Stocks close little changed with the June rally on hold ahead of US-China trade talks; European stocks close lower amid US-Iran tensions; Daimler profit warning hits autos; Cadez: Growth rate 3.5-4 pct over medium term; Announced investment cycle to boost GDP – economists; Serbia launches sale of Jat Tehnika at starting price of 20.5 mln euro