Daily Report 06.08.2019
Datum objave: 06.08.2019
Dow plunges 760 points in worst day of 2019 as trade war intensifies; European stocks close lower as Chinese yuan hits 7 against the dollar for first time in over a decade
Stocks fell sharply Monday as a trade war between the world’s largest economies intensified with China retaliating against President Donald Trump’s latest move.
The Dow Jones Industrial Average plunged 738 points and dropped as much as 951 points. The S&P 500 dropped 2.9%. The Nasdaq Composite lagged, falling 3.4%. The S&P 500 was headed for its worst day of 2019. The indexes have also fallen more than 5% from their record highs set last month.
Along with the currency move, China retaliated by suspending the purchases of U.S. agricultural products and threatened to slap tariffs on the farm goods purchased after Aug. 3, according to state media and other reports.
European stocks tumbled Monday as a rapid escalation of U.S.-China trade tensions continues to spook investors worldwide. The pan-European Stoxx 600 traded 2.3% lower during the afternoon session, with all sectors and major bourses firmly in the red.
With earnings season winding down, HSBC on Monday announced the surprise departure of CEO John Flint, saying the bank needed a change at the top to address a “challenging global environment” despite posting a 16% rise in half-year profit. The bank’s London-listed stock traded 2% lower by Monday afternoon.
Serbia's public debt dropped to 23.55 billion euros in June
Serbia's public debt stood at EUR 23.55 billion at the end of June 2019, which is 190 million less compared to May. The share of public debt in Serbia's gross domestic product (GDP) also dropped from 51.8 percent in May to 51.4 percent in June, the Ministry of Finance announced. At the end of 2018, public debt stood at € 23.01 billion, accounting for 53.8 percent of GDP. The lowest share of public debt in GDP, at 28.3 per cent, was recorded in 2008, while the highest was registered in 2000, when it accounted for 201.2 percent of GDP.
Budget surplus 21.5 billion dinars at the end of June
At the end of the first half of the year, the Government budget surplus amounted to 21.5 billion dinars, the Ministry of Finance announced. Revenues were collected in the amount of 611.8 billion dinars, while expenditures were made in the amount of 590.3 billion dinars. According to the Ministry in June alone budget surplus of RSD 13.2 billion was achieved. In June, 113.4 billion dinars were collected, of which 101 billion were tax revenues, and, as a rule, the largest part of tax revenues in the amount of 41.2 billion dinars came from VAT and excise taxes in the amount of 27.2 billion dinars.
Public invitation for strategic partner for construction of Morava Corridor opens
The Ministry of Construction, Transport and Infrastructure opened the public invitation for a strategic partner in the realization of the construction of the infrastructural corridor of the Pojate-Preljina highway section, that is, the Morava Corridor, on Monday, August 5, 2019. One of the requirements, as said, is for the applicants to provide a letter of intent from international institutions, banks or other sources of finance for the financing of the Morava Corridor project in the amount of at least EUR 400 million. The deadline for the submission of bids is 21 days from the date of the opening of the public invitation, and the opening of the bids is scheduled for August 27, at 8 am.
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