Daily Report 01.07.2019
Datum objave: 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
Stocks closed higher on Friday, boosted by bank shares, as investors looked ahead to a key meeting between President Donald Trump and Chinese President Xi Jinping. Wall Street also wrapped up its best first half to a year in two decades. The S&P 500 advanced 0.6% to 2,941.74, led by the financials sector. For the month, the S&P 500 jumped 6.9%, its best June performance since 1955. The broad index is also up more than 17% this year, marking its biggest first-half gain since 1997. The Nasdaq Composite gained 0.5% to end the day at 8,006.24. The tech-heavy index also rallied 7.4% this month.
J.P. Morgan Chase jumped 2.7% while Citigroup, Bank of America, Goldman Sachs and Wells Fargo all closed more than 2% higher. Morgan Stanley shares advanced 0.7%. Their gains come after they passed the Fed’s annual stress test and got approval to boost dividends and share repurchase programs. Goldman hiked its quarterly dividend by nearly 50% while J.P. Morgan raised its dividend by 10 cents.
European markets closed higher Friday as investors track developments at the G-20 summit in Osaka, Japan, where President Donald Trump and Chinese President Xi Jinping are expected to meet amid the ongoing trade war.
The pan-European Stoxx 600 closed provisionally 0.7% higher. Autos and basic resources, two sectors particularly sensitive to trade-related news, rose around 0.8% and 1.5% respectively.
In Europe, Deutsche Bank on Thursday passed the Fed’s stress test, which gauges banks’ abilities to weather a major economic downturn. The German lender is considering laying off up to 20,000 people, according to a Wall Street Journal report. Deutsche shares climbed about 3%.
Credit Suisse, however, is now subject to conditions in its U.S. operations after the central bank found weaknesses in its capital planning processes. The Swiss lender’s stock fell marginally.
SORS: Serbian January-May exports 8.3% up, imports 10.8% up
Serbia's overall external trade rose 9.7 pct to 16.67 bln euros in January-May 2019 - exports were 8.3 pct up and imports were 10.8 pct up y-o-y. Exports totalled 7.08 bln euros and imports stood at 9.58 bln euros, resulting in a 2.5 bln euro deficit, which was 18.8 pct up compared to January-May 2018, the Serbian national statistical office SORS said in a statement. The export-import ratio was 73.9 pct - down from 75.6 pct in the same period of 2018, it said.
SORS: Serbian consumption 11% up in January-May 2019
According to preliminary results released by the national statistical office RZS, Serbian retail trade turnover in January-May 2019 increased by 11% at current prices and by 8.2% at constant prices compared to the same period of 2018. In May 2019 alone, retail trade turnover increased by 8.3% at current prices and by 5.9% at constant prices compared to the same month in 2018, the office said in a statement.
NIIS: NIS GA approved RSD 39.9 per share as a cash divided
General Assembly at NIS, approved cash dividend payment in the amount of RSD 39.9 per share, as it was already expected. Record date is 17th June, this year, while this payment bears solid 5.7% gross yield. The company is about to payout 25% of its 2018 earnings.
Source: NIIS, Ilirika
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