Daily Report 02.08.2019
Datum objave: 02.08.2019
Dow drops 280 points, giving up big earlier gain after Trump says US adding more tariffs on China; European stocks close higher on strong earnings; Bank of England holds rates
Stocks fell sharply on Thursday, erasing a big surge from earlier in the day, after President Donald Trump said the U.S. would impose an additional 10% tariff on Chinese imports to the U.S.
The Dow Jones Industrial Average closed 280.85 points lower at 26,583.42 after rallying as much as 311 points earlier in the day. The S&P 500 ended the session down 0.9% at 2,953.56 after rallying more than 1%. The Nasdaq Composite closed down 0.8% at 8,111.12 after jumping more than 1.6%.
European stocks traded higher Thursday after strong earnings reversed early losses resulting from a more hawkish tone from the U.S. Federal Reserve. The pan-European Stoxx 600 closed provisionally 0.41% higher, led by a 2.2% gain for financial services stocks.
Societe Generale on Thursday reported a second-quarter net income of 1.05 billion euros ($1.16 billion), surpassing analyst expectations according to Reuters’ estimates. The French bank posted a net income of 1.2 billion euros for the same quarter last year. Societe Generale stock gained 5.7% by afternoon trade.
Royal Dutch Shell’s second quarter profits slumped to a 30-month low due to lower oil and natural gas prices and refining margins, falling far short of forecasts and leading the company’s shares 4.9% lower.
Erste Group Bank will not bid for Komercijalna banka
Austrian Erste Group Bank will take no part in the privatisation of Serbia's Komercijalna banka, the banking concern's CEO Andreas Treichl has announced. Presenting the group's semiannual results at a Vienna press conference, Treichl said Erste would not bid for Komercijalna banka. In Serbia, Erste Group Bank is present through a smaller bank and aims to continue to invest in digital development and staff training in the country, rather than to reinvest in a new branch office network and various IT systems, he said. Despite losing a legal case in Romania - which will result in a 105.8 mln euro write-off - Erste Group Bank has achieved the best results in its history, he said.
Serbian retail trade turnover 11% up y-o-y
According to preliminary figures released by the Serbian national statistical office RZS, the June 2019 retail trade turnover in the country was 11.2 pct up at current prices and 10.1 pct up at constant prices compared to the same month last year. "Comparing the first six months of 2019 with the same period of 2018, retail trade turnover increased by 11.1 pct at current prices, and by 8.5 pct at constant prices," the RZS said in a statement.
Serbian exports 6.7 pct up, imports 9.1 pct up in first half of 2019
Serbia's external trade rose 8 pct to 20.07 bln euros in the period from January to June, with exports 6.7 pct up and imports 9.1 pct up y-o-y. In the first six months of this year, exports stood at 8.58 bln euros, with imports at 11.49 bln euros, the national statistical office RZS said in a statement. The deficit is 2.9 bln euros, which is a 17 pct increase y-o-y and the export-import ratio is 74.7 pct - down from 76.4 pct in the first half of 2018, it 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