Daily Report 12.08.2019
Datum objave: 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%
Stocks fell on Friday as Wall Street concluded a wild week amid trade war fears and worries over the global economy. The Dow Jones Industrial Average closed 90.75 points lower, or 0.3% at 26,287.44. The S&P 500 dipped 0.7% to 2,918.65 while the Nasdaq Composite pulled back 1% to 7,959.14.
President Donald Trump told reporters on Friday the U.S. is not ready to strike a trade deal with China. “China wants to do something, but I’m not doing anything yet,” Trump said. “Twenty-five years of abuse. I’m not ready so fast.”
Traders also kept a close eye on the bond market, where the recent appetite for U.S. debt has pushed a bond market recession indicator close to a warning zone. If investors trigger a recession warning in the bond market that tends to be negative for stocks.
European stocks closed lower on Friday as investors monitored trade war developments and a possible collapse of the Italian government. The pan-European Stoxx 600 was provisionally 0.9% lower at the closing bell, with most sectors and major bourses in the red. talian bank stocks plunged, with Banco BPM shares tumbling 9%, while Unicredit and Ubi Banca fell by 5% and 8% respectively.
Dinar to hit record high on Monday at 117, 6809 for one €
The Serbian dinar's official median exchange rate against the euro will be 117, 6809 dinars for one euro Monday August 11, which is a slight change from Friday and a new record high this year, the National Bank of Serbia (NBS) has announced in a statement. The NBS bought 30 million euros in the interbank foreign exchange market to alleviate excessive daily fluctuations in the exchange rate, raising the total amount it has bought since the beginning of this year to 1.79 billion euros, while selling 130 million.
Talks on Belgrade-Bar railroad with Montenegro
Serbian President Aleksandar Vucic on Friday announced talks with Montenegro on plans to modernize Belgrade-Bar railroad. Vucic said that the Montenegrin side will do its part on the project, and that Serbia will provide money from the 10 billion investment plan. Asked what the plans for the Belgrade-Bar railroad are, the President said that the Russians on the 210-kilometer-long Valjevo-Vrbica project and that the Resnik-Valjevo railway was being reconstructed. After its completion in seven, eight or ten months, what remains is to find the money within the 10 billion investment plan, to merge these rail lines with Montenegro.
Government again gives 21 million euro to Air Serbia
Air Serbia’s financial report for 2018 shows that the Serbian government has paid it 21 million euros to the airline in subsidies and donations. Prime Minister Ana Brnabic explains that the money was used to cover the former national air carrier JAT’s debts which is shown in the report as subsidies. Last and the year before last, the Serbian government disbursed nearly 21 million euros in grants, subsidies and donations to Air Serbia, which was shown in the financial sheets as the airline-‘s income.
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