Daily Report 08.08.2019
Datum objave: 08.08.2019
Dow closes little changed after rally back from 589-point drop in wild session; European stocks close higher as trade concerns linger, bond yields slide
The Dow Jones Industrial Average recovered the bulk of a nearly 600-point drop on Wednesday as a sharp decline in bond yields stabilized to temper worries over slowing economic growth. The 30-stock index closed 22.45 points lower, or 0.1% at 26,007.07. At its lows of the day, the Dow had fallen more 589.13 points. The S&P 500 eked out a small gain after dropping nearly 2%, climbing 0.1% to 2,883.98. The Nasdaq Composite advanced 0.4% to 7,862.83, led by Apple, after the tech-heavy index fell as much as 1.7%.
In corporate news, Disney shares slid on weaker-than-expected results for the previous quarter. Disney’s results were weighed down by increasing losses in streaming services such as Hulu, ESPN+ and Disney+. The media giant also blamed the integration of Fox’s entertainment assets for the weak numbers. Disney shares closed down 5%.
European stocks closed in positive territory on Wednesday despite tumbling bond yields stoking concerns about a global economic slowdown. The pan-European Stoxx 600 was 0.2% higher at the closing bell, with most sectors and all major bourses in positive territory. Travel and leisure stocks led the gains, while oil and gas stocks tumbled after oil prices plummeted. The banking sector was in focus as the European banking index hit a one-year low following a slew of new financial results. Commerzbank posted a net second-quarter profit of 271 million euros ($303.79 million) which was little changed from the same period a year ago, but exceeded the 217 million euros expected by analysts. The German lender’s shares slid 6.4%.
Italy’s Unicredit posted a sharp rise in second-quarter net profit of 1.85 billion euros, an increase from the 1.02 billion euros posted a year ago, boosted by the sale of its stake in FinecoBank, but coming in below analyst expectations. The bank’s stock was down 5% by the end of the session.
KMBN: Komercijana reports 19.4% jump in 6M net profit on reduction of impairments
Komercijana Banka (KMBN) reported RSD 4.3bn in its 6M19 net profit, up 19.4% y/y, while this is mainly on reduction of impairments of financial assets not recognized at affair value in P&L statement. The bank’s core business grew at a very low rates. Net interest income for the period was up only 1.2% to RSD 6.3bn, while net F&C income was up 1.9% y/y. Credit activity was up 4.8% YTD, while total assets grew 2.7% YTD.
Source: KMBN, Ilirika
Serbia-China trade up by 25.8%
According to the statistics of Chinese side, the China-Serbia trade volume in 2018 totaled 950 million USD, up by 25.8 percent compared with 2017, said Tang Xiaodong, attache for the Economic and Commercial Affairs in the Embassy of China in Belgrade. China's export to Serbia was 730 million USD, up by 33.5 percent; the import from Serbia stood at 730 million USD, up by 25.8 percent, said Xiaodong in the interview he gave to the magazine "Diplomacy&Commerce"
Port Dubai invests 29 million euros in NS port
P&O Port Dubai, which bought the Novi Sad port in May for eight million euros, will invest about 29 million euros in the port company, Prime Minister Ana Brnabic said on Wednesday, adding that the new owner would first invest in the opening of an international passenger transport terminal. The contract was signed today, and Port Dubai, which is, according to Brnabic, a serious company, begins investing.
Daily Report 08.03.2018
08.03.2018 | NBS: Meeting of the NBS Executive Board postponed; Serbia to enhance cooperation with Albania after 30 years – Ministers of agriculture announce two agreements; Continental opens Center for Research and Development in Novi Sad – Germans to employ another 500 workers; Large dividend payers in Slovenia report profit this week - the outlook for dividends looks good Zavarovalnica Triglav (ZTVG) generated a net profit that enables the payment of a dividend of EUR 2.5. This means dividends yield on the dividend 7.68 percent. Good results have been published by Petrol (PETG), which indicate a 10 percent increase in dividends compared to the previous year, which would amount to about 4.6 percent dividend yield at present market price. This week we expect the annual report of the company SavaRe, whose shares also tend to bear more than four percent dividend yield.; SBITOP lost 0.12 percent reaching 809.49 points; Grupa Petrol ima 495 benzinskih stanica, od čega 317 u Sloveniji, 106 u Hrvatskoj, a ostale u BiH i Srbiji.; Stocks rally off lows, Nasdaq closes positive after White House hints Canada, Mexico could be exempt from tariffs, European stocks close higher after EU threatens US with tariffs, Renault briefly pops 8%
Daily Report 07.03.2018
07.03.2018 | EBRD's new five-year strategy for Serbia – Expected growth in 2018 amounts to 2.9%; American companies interested in infrastructural projects in Serbia; Higher GDP, employment growth key challenges for 2018, PM says; SBITOP gained 0.43 percent; The Koper container terminal from today with a new connection to Munich; Part of the EU funds for the second track could be used by the Directorate for Infrastructure instead of 2TDK; Stocks close higher but investors remain on edge over tariffs debate, Europe ends slightly higher despite Italy uncertainty, US tariff concerns
Daily Report 06.03.2018
06.03.2018 | Serbian capital market awakening – First IPO drawing closer, crowdfunding platform for startups and small companies soon; Serbian legislature to harmonize with EU acquis by the end of 2021; Serbia negotiates about 29,000 of new jobs; SBITOP lost 0.37 percent; Triglav Group in 2017: Profit Above the Budgeted Level, Performance Impacted by Higher Claims, Reporting Year Marked by Strategic Development Activities; Dow closes 336 points higher as trade-war worries ease, Europe ends on a high note despite Italy's political uncertainty, AXA sinks 9.7%
Daily Report 05.03.2018
05.03.2018 | Serbian banks' NPL ratio falls to 11.1% at end of November; ENHL: Energoprojekt Niskogradnja and Colas Rail to lay down tracks on Ada Bridge – Tram traffic to open no sooner than in July 2019; Serbia and China negotiating about new air route; SBITOP down 0.13% on Friday, while gaining 0.02% w/w; S&P 500 and Nasdaq close higher as health care jumps, but snap 2-week winning streaks, Europe tumbles by the close as Trump’s tariff announcement spooks investors
Daily Report 02.03.2018
02.03.2018 | NIIS: NIS reported RSD 27bn in FY 2017 net profit, up 80% y/y; Dialogue between Belgrade authorities and IMF on future goals to begin in mid-March; German carmaking giant to make big investment in Serbia?; SBITOP moved down by 0.82 percent; GDP up by 6.0 percent in the fourth quarter of 2017 and by 5.0 percent in 2017; Dow closes more than 400 points lower after Trump says steel and aluminum tariffs comingEurope finishes deep in the red amid mixed earnings
Daily Report 01.03.2018
01.03.2018 | Serbia's GDP grows 2.5% in Q4; Serbian industrial output in January 2018, up 10.6% y/y; BELEX ends February in red; SBITOP index gained 0.89 percent yesterday; Dow closes 380 points lower, snaps longest monthly win streak since 1959, European stocks close lower on Powell’s comments, ITV down 7.6%
Daily Report 28.02.2018
28.02.2018 | NBS: Annual inflation expected at 3% for one year ahead period; CCNB: Halkbank increases capital by EUR 20 million – Turks own 99.94% share; AERO: Belgrade Airport reported nearly flat FY 2017 net profit at RSD 3.2bn; SBITOP gained 0.14 percent; MF grants primary dealerships to four banks to issue additional bonds; Dow falls 299 points after Powell signals Fed will keep raising rates to contain inflation, European stocks close in the red amid earnings, Powell testimony, Sky surges 20.5%
Daily Report 27.02.2018
27.02.2018 | Share of grey economy in Serbia lowered to 15.4% of GDP – Cashless payments reducing room for non-transparent transactions; First public call for Nis-Pristina highway possibly to open by the end of 2018; Serbia and Bulgaria sign memorandums on cooperation in rail and water transport – Joint application for EU funds enabled; SBITOP closed 809.46 points; Mlinotest with 1.7 million of net profit; SURS: In 2017 tourists generated almost 12 million overnight stays; Dow rallies nearly 400 points, European markets close higher as focus shifts to data, politics,
Daily Report 26.02.2018
26.02.2018 | NIIS: NIS rescheduled earnings report for 1st March; KMBN: Komercijalna Banka reported RSD 7.18bn in 2017 pre-tax profit; NBS: Annual inflation in January at 1.9%; SBITOP lost less than half a percentage point; Jozef Kausich new CEO of Intesa Sanpaolo; Dow rallies 347 points as stocks close higher for the week, Europe markets close mixed amid corporate earnings, Valeo down 11%
Daily Report 23.02.2018
23.02.2018 | EIB to provide 20 mln euro SME loan guarantee facility to Serbian banks; Serbia successfully completes three-year arrangement with International Monetary Fund – New program not to be financial; EIB analyzing feasibility of Nis-Merdare-Pristina highway – Approval for first section worth EUR 240 million in the second half of 2018; SBITOP lost 0.27 percent; Nasdaq closes lower for fourth straight day, S&P 500 hangs on to slight gain, European markets recover losses by close, Barclays up over 4%