Daily Report 07.08.2019
Datum objave: 07.08.2019
Dow jumps 300 points as Wall Street rebounds from worst day of the year; European stocks close lower after China strengthens currency, easing trade retaliation
Stocks rebounded on Tuesday from their worst day of the year after China’s central bank indicated it plans to keep its currency at a level stronger than some investors had first feared, easing tensions about the nation using the yuan as a weapon in the trade war.
The Dow Jones Industrial Average closed 311.78 points higher at 26,029.52. The S&P 500 rose 1.3% to 2,881.77, while the Nasdaq Composite climbed nearly 1.4% to 7,833.27. Tuesday’s gains helped the Dow snap a five-day losing streak, while the S&P 500 and Nasdaq rose for the first time in seven sessions.
European stocks closed lower on Tuesday after China’s central bank set the yuan’s official reference point at a stronger than expected level, easing its retaliation to U.S. tariffs, while rejecting Washington’s designation of Beijing as a “currency manipulator.”
The pan-European Stoxx 600 was 0.4% lower during afternoon trade, with household goods stocks — which covers the China-exposed luxury sector — leading the gains. Luxury brands LVMH, Christian Dior and Hugo Boss all saw their shares cross into positive territory.
In corporate news, German postal giant Deutsche Post raised its 2019 forecast after restructuring measures and a rise in German postage and parcel prices. The group reported a rise in operating profit of 2.9% to 769 million euros ($861.55 million), surpassing the 727 million average forecasts from analysts polled by Reuters. Deutsche Post stock traded 3.5% higher midway through the afternoon session.
Dinar to hit new high against euro, rate at RSD 117.7187
On Wednesday the dinar will stay at approximately the same level as Tuesday and the official median exchange rate against the euro will be 117.7187 dinars, which is the new high against the single currency this year, the National Bank of Serbia announced. 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 has dropped Tuesday 0.3 pct at 105,3505 dinars for one dollar. The dinar dropped 0.9 pct against the dollar m-o-m, declining 3.1 pct y-o-y and 1.9 pct since the beginning of the year.
Strong growth in the value of Komercijalna Banka's shares
Trading on the Belgrade Stock Exchange has fallen sharply yesterday, while BELEX indexes have taken off, primarily due to strong growth in the value of Komercijalna Banka's shares. Total trading turnover amounted to only 2.0 million dinars (17.4 thousand euros). The BELEX15 index recorded a large gain of 3.4 percent, closing the day at 763.78 points. BELEXline climbed to 1.581,26 points, up 1.8 percent from Monday. Komercijalna Banka dominated the stock market both in terms of turnover and price growth. The common stock of this banking house jumped by a fantastic 15.9 percent to 3,478 dinars and was traded for almost 0.9 million dinars.
Turnover through instant payments in July RSD 8 billion
The value of turnover through the National Bank of Serbia's instant payment reached RSD 8 billion in July. The average daily value of turnout through IPS was 260 million dinars, the Central Bank announced. The average daily payment number was 15,599, with an average transaction execution time of 1.1 seconds. Via this system, which operates in 24 hours 365 days a year, 483,565 payments were made in 31 days in July.
Daily Report 20.09.2019
20.09.2019 | S&P 500 closes flat, hovering near record high; European markets close higher amid Fed easing; Bank of England holds rates; Serbian GDP up 4.4% in July; EIB ready to fund projects in Serbia's new investment cycle; FINT: Serbia's renewable energy sources potential totals 50,000 GWh
Daily Report 19.09.2019
19.09.2019 | Stocks close flat as Fed fails to clearly signal more rate cuts in 2019; European markets close slightly higher ahead of Fed rate decision; Serbian businessman possible mystery buyer of Kras shares – paper; German SMEs coming to Serbia; Botsan-Kharchenko: Good news about TurkStream
Daily Report 18.09.2019
18.09.2019 | Stocks rise slightly ahead of the Fed’s decision on interest rates; European stocks close slightly lower as oil plummets; Fed meeting in focus; NIS stocks rise on BELEX following dividend payout; China's Huawei eyes development of data centre in Serbia; Countercyclical buffer rate for the Republic of Serbia kept unchanged
Daily Report 17.09.2019
17.09.2019 | Dow snaps 8-day winning streak on fears spiking oil will slow the global economy; European stocks close lower amid geopolitical tensions; oil shares spike 3%; KMBN: Privatization of Komercijana attracted three banks and one fund; 120 mln euros of budget funds for Morava Corridor; As early as of December, the average salary will amount to 500 euros"
Daily Report 16.09.2019
16.09.2019 | Dow notches 8-day winning streak, nears record on growing optimism around US-China trade; European stocks close higher after aggressive ECB stimulus; banks up 2%; Declining industrial output in eurozone affecting Serbia; Gov't sets 2020 minimum monthly wage at 30,022 dinars; EBRD to credit small and medium companies in Serbia with EUR 160 million
Daily Report 13.09.2019
13.09.2019 | Dow posts 7-day winning streak, inches closer to record after tariff delay and ECB rate cut; European stocks close higher as ECB launches new stimulus plan; NBS: Key policy rate kept on hold; SORS: Annual inflation in august at 1.3%; Agreement worth EUR 100 million signed with EIB on construction of Nis-Merdare highway
Daily Report 12.09.2019
12.09.2019 | Dow jumps more than 200 points, closes above 27,000 for the first time since July; European stocks close higher ahead of central bank meetings; NBS: FX reserves in August at EUR 13bn; Serbia, Czech Republic sign agreements on cooperation; Talks underway about Czech company coming to Serbia
Daily Report 11.09.2019
11.09.2019 | Stocks close little changed as tech shares and Ford weigh on the market; European stocks erase earlier losses to close slightly higher; KMBN: Bids for sale of shares of Komercijalna Banka opened – Second selection phase in November; Minimum wage in Serbia to be RSD 30,022 from 2020; Serbia attracts 1.9 bln € worth of FDI in first half of 2019
Daily Report 10.09.2019
10.09.2019 | Dow posts 4-day winning streak amid trade optimism; European stocks close mainly lower as investors eye Brexit battle and stimulus hopes; Agreement on construction of Nis-Pristina highway to be signed on Thursday – Construction of section to Plocnik to begin in 2020; China's Zijin Mining Co to build new plant in Majdanpek; NIS to payout cash dividend on 16th September
Daily Report 09.09.2019
09.09.2019 | Stocks close little changed after disappointing jobs report, but rise for a second straight week; Europe closes higher as investors monitor Brexit uncertainty; KMBN: Serbia to buy Komercijalna banka shares owned by EBRD, IFC - four non-binding bids had been received; Moody’s Upgrades Serbia’s Rating Outlook; Mali, Petrovic discuss draft 2020 budget