Daily Report 05.08.2019
Datum objave: 05.08.2019
Stocks fall on trade war fears, sending the S&P 500 to its worst week of 2019; European stocks close sharply lower
Stocks fell on Friday as President Donald Trump stoked U.S.-China trade fears with the announcement of more tariffs while investors digested U.S. employment data. The Dow Jones Industrial Average closed 98.41 points lower at 26,485.01 after plunging 334.20 points earlier in the day. The S&P 500 lost 0.7% to end the day at 2,932.05. The Nasdaq Composite slid 1.3% to close at 8,004.07. The major indexes dipped below their 50-day moving averages, key technical levels watched by investors.
The U.S. economy added 164,000 jobs in July, just below a Dow Jones estimate of 165,000. The job gains pushed the size of the U.S. labor force to a record high. Wages topped analyst expectations. They rose 3.2% on a year-over-year basis, surpassing a Dow Jones forecast by 0.1 percentage points.
The pan-European Stoxx 600 was provisionally down 2.4% by the end of the session, basic resources and auto stocks falling 4.6% and 3.4% respectively as all sectors traded in the red. Tech stocks also among the biggest losers — dropping 3.6%.
Allianz reported a 13.5% rise in second-quarter net profit on last year, coming in at 2.265 billion euros ($2.51 billion). The German financial services provider saw its shares slide 3% in afternoon trade.
Monday’s dinar-to-euro rate at RSD 117.7421
The Serbian dinar's official median exchange rate against the euro will be 117.7421 dinars for one euro Monday, which is a slight change from Friday, the National Bank of Serbia (NBS) has announced in a statement. The dinar will rise 0.1 pct against the euro m-o-m, 0.3 pct y-o-y and 0.4 pct compared to the beginning of the year. The indicative exchange rate against the dollar rose 0.2 pct to 106.0358 dinars for one dollar Friday. The dinar dropped 1.5 pct against the dollar m-o-m, declining 3.9 pct y-o-y and 2.5 pct since the beginning of the year.
Zijin to invest another 200 mln dollars in Bor
China's Zijin Mining Co, which has a 63 pct stake in Serbia's Bor copper mining and smelting complex, situated in the east of the country, will invest another 200 mln dollars in reconstruction, upgrades and construction of metallurgical facilities. According to a Vecernje novosti report, Zijin Mining wants to expand the output capacities of the Bor smelting plant with leading-edge technology. It aims to install new equipment that will enable production to rise from the present 80,000 t of processed copper concentrate a year to as much as 200,000 t a year.
Number of tourists in Serbia 9.1 pct up y-o-y in June
The number of tourists who visited Serbia in June this year was 9.1 pct up compared to the same month last year, the national statistical office RZS has said. Total overnight stays rose by 7 pct, the statement said. Compared to June 2018, the number of overnight stays by Serbian tourists also rose by 4 pct while overnight stays by foreign tourists increased by 12.1 pct. A total 1,651,280 tourists were registered in Serbia in the first six months of this year, including 358,529 in June. In the first half of 2019, the number of Serbian tourists was 896,447 while there were 754,833 foreign tourists. Serbian tourists generated 4,539,009 overnight stays in the first six months, while foreigners accounted for 1,690,535 overnight stays, the RZS 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