Daily Report 31.07.2019
Datum objave: 31.07.2019
Stocks fall after Trump attack on China dampens hope of a trade deal, Fed meeting looms; European stocks tumble sharply on US-China trade uncertainty and weak earnings
Stocks fell on Tuesday after President Donald Trump renewed his attacks on China, decreasing hope the two largest world economies will reach a trade deal. Investors also braced for a key announcement on U.S. monetary policy. The Dow Jones Industrial Average closed 23.33 points lower, or 0.1% at 27,198.02 after dropping as much as 151.49 points. The S&P 500 slipped 0.3% to 3,013.18. The Nasdaq Composite dipped 0.2% to 8,273.61.
Merck posted earnings and revenue that exceeded analyst expectations, sending the stock up 1%. The company said sales of its cancer-treating drug Keytruda surged 58% in the previous quarter.
Procter & Gamble climbed more than 3% and hit an all-time high on the back of fiscal fourth-quarter results that beat analyst expectations. GrubHub, however, fell more than 12% after posting a disappointing profit.
The pan-European Stoxx 600 plunged 1.6%. Autos and banks led the losses, both off more than 2%, as all sectors and major bourses traded firmly in the red. Germany’s DAX was among the worst-performing bourses after a series of weak earnings from German corporate giants, trading over 2% lower.
Bayer confirmed its outlook for 2019 but struck a slightly less optimistic tone. The German pharmaceutical giant reported earnings before tax, depreciation and amortization (EBITDA) before special items advancing by 25% to 2.9 billion euros. The company now faces 18,400 lawsuits in connection with its weed killer Roundup. Bayer stock fell nearly 4%.
Lufthansa posted a drop in second-quarter earnings on rising fuel costs and price wars, with adjusted earnings before interest and tax (EBIT) falling to 754 million euros from 1 billion euros a year earlier. The airline’s share price slipped over 6%.
NIIS: NIS reported RSD 3.2bn in its 1H19 net profit, down 72% y/y
In the first six months of 2019, Naftna industrija Srbije (NIS) posted a net profit of 3.2 bln dinars, the petroleum company announced Monday. This is 72% y/y drop due to poor 1Q period. "In Q2 2019, net profit of NIS reached 3.1 bln dinars, which is 19 times the profit in Q1 this year, but still down 61% y/y, due to lower EBITDA, lower production and lower crude oil price. EBITDA equals 15.9 bln dinars in 1H19. Tax liabilities and other payments to the state budget from the NIS Group in the first half of 2019 amounted to 79.8 bln dinars," it was said in a statement.
World’s largest tire producer, Toyo Tires, to open factory in Indjija – Japanese investment worth EUR 390 million, jobs for 523 workers
Serbian President Aleksandar Vucic told the media that, after three years of negotiations, the world’s largest producer of tires, Toyo Tires, had decided to come to Serbia, more precisely, to Indjija. Vucic said that he had received a letter from the president of the Japanese company that day, confirming that Indjija had been selected for their factory, which should start being built on a 60-ha parcel several months later. This will be the first factory of Toyo Tires in Europe – Vucic said and added that, in the first phase, EUR 390 million would be invested and 523 workers would be employed.
FDI in Serbia reaches 2 bln euros in mid-July
FDI inflow in Serbia since the beginning of the year stood at 2 bln euros in mid-July, National Bank of Serbia (NBS) Governor Jorgovanka Tabakovic said Tuesday. At a session of the parliamentary committee on finance, which analysed the performance of the NBS, Tabakovic said preliminary results indicated the money had already entered the country via bank accounts. "It has been recorded but the date of publication is not official as yet. I want you to be the first to hear it," Tabakovic told the committee members. She noted a trend of FDI growth was expected to continue until the end of the year. She said FDI had totalled 3.5 bln euros in 2018, making up 8.2 pct of GDP.
Daily Report 22.03.2018
22.03.2018 | Telenor sells CEE assets, including Serbian company; AERO: Agreement on concession of the Nikola Tesla Airport to be signed today; MTLC: Metalac scheduled GA for 26th April; Slovenia producer prices up 2.1% y/y in Fberuary; SBITOP ends Wednesday 0.1 %higher; Stocks close lower after Fed hikes rates, upgrades economic outlook, European markets close lower
Daily Report 21.03.2018
21.03.2018 | Next meeting of Serbian delegation with IMF to take place in Washington from April 20 through 22; More money for financing small and medium enterprises – CEB approves loan of EUR 50 million for two banks in Serbia; French EDF interested in hydroenergy projects in Serbia; The Salus Group increased revenues and profits last year; Slovenia Consumer Confidence dropped slightly; Dow closes 116 points higher as Fed meeting kicks off, European equities close higher ahead of Fed meeting
Daily Report 20.03.2018
20.03.2018 | FITO: Fitofarmacija reported 16% drop in FY 2017 net profit on higher tax & FX loss; NIIS: Excise taxes on petroleum products increased – Price of petrol at gas stations to remain the same for now; NLB Bank to sell NPLs in Serbia; Slovenian index SBITOP gained 0.24 percent yesterday; Growth of FDI in Slovenia; Slovenia with the highest growth in construction in the Eurozone and EU; Dow drops 335 points, Nasdaq slides 1.8% as Facebook drags tech shares lower, Europe markets close lower as Micro Focus tanks 46%
Daily Report 19.03.2018
19.03.2018 | MTLC: Metalac announced buyback intention; Moody's says Serbia's credit profile balances diversified economy, stronger fiscal metrics against large contingent liabilities; Bloomberg: Serbian dinar second best performing currency in the world; SBITOP lost 0.23% on Friday; Stocks fall for the week on rising trade tensions, Europe closes higher amid political, trade concerns
Daily Report 16.03.2018
16.03.2018 | GDP grows by 4.2% in January, PM says; ENHL: EP Entel contracts new jobs worth EUR 6.7 million; Serbia and Japan continue cooperation in energy – Mining and geology in focus as well; SBITOP extends it advance; Dow closes 115 points higher, but broader market struggles as trade war fears linger, European equities finish on a high note amid strong earnings
Daily Report 15.03.2018
15.03.2018 | NBS: Key policy rate lowered to 3.25%; Serbia to prepare to open another 5 chapters in EU negotiations by the end of March; AERO: Six weekly flights from Tehran to Belgrade soon – Air lines from other Iranian cities planned as well; SBITOP gained minor 0.07%; Cinkarna Celje with strong revenue growth and cost reduction in 2017; Dow closes more than 200 points lower, as Boeing slides on fears of a China trade war, European stocks close slightly lower as trade war fears weigh on Wall Street
Daily Report 14.03.2018
14.03.2018 | NBS: NBS FX reserves in February at EU R9.7bn; Total foreign trade of Serbia amounts to EUR 2.62 billion in January 2018; IMF and Serbian delegation officially start talks about new arrangement; SBITOP reached 822.66 points; NLB Nov penziski fond AD Skopje joins Sava Re Group; Dow drops more than 150 points, Nasdaq snaps 7-day winning streak as tech shares slide, Europe finishes sharply lower after Tillerson ousting rattles markets
Daily Report 13.03.2018
13.03.2018 | Fiat biggest exporter in first two months of 2018; Memorandum on reconstruction of Belgrade-Zagreb railway signed – Works on Serbian territory worth around EUR 250 million; NBS: Annual inflation in February at 1.5%; SBITOP remained stable at 818.1pts; Dow closes 157 points lower amid lingering trade-war worries, Europe ekes out minor gains by the close, as utilities outperform fellow sectors
Daily Report 12.03.2018
12.03.2018 | Budget surplus in January at RSD 22.1bn; JESV: Jedinstvo bought back additional 100 own shares; ENHL: Sava preuzela Energoprojekt Garant; SBITOP gained 0.14 percent reaching 818,12 points; Petrol to make a final decision on paying out 16 EUR per share dividend. Results of SavaRe and Zavarovalnica Triglav promise high level dividends; In 2017 the Sava Re Group wrote €517.2 million in gross premiums, an increase of 5.5% over 2016 and 4.7% more than planned.; Nasdaq closes at record, Dow rallies more than 400 points after jobs report, Europe finishes in the black as well
Daily Report 09.03.2018
09.03.2018 | Kostic repeats expression of interest in part of Agrokor – Investments in Slovenia and Montenegro more important than purchase of PKB; ENHL: Sheikh Mubarak bin Fahad Al-Thani, Ambassador of Qatar to Serbia – World Cup preparations opportunity for Serbian companies; Serbia to be regional maintenance hub for Airbus helicopters; SBITOP gained 0.93 percent, reaching 817.01 points; Gorenje, d.d. received 4 non-binding offers from potential Asian strategic partners; Intereuropa Group generated a sales turnover of EUR 150 million; 25 percent plus one share in Deželana Banka Slovenije, d.d. sold; Stocks close higher after Trump signs tariffs that exclude Mexico and Canada, Europe markets closed higher for the fourth straight session following ECB decision