Daily Report 20.08.2019
Datum objave: 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%
Stocks rose sharply on Monday as Treasury yields rebounded, quelling fears of a possible recession. Equities also got a boost after the U.S. agreed to extend a temporary reprieve to Chinese telecom giant Huawei.
The Dow Jones Industrial Average closed 249.78 points higher, or 1%, at 26,135.79. The S&P 500 gained 1.2% to close at 2,923.65 as the energy and tech sectors outperformed. The Nasdaq Composite advanced 1.4% to end the day at 8,002.81.
Apple advanced 1.9%. The move up comes after CEO Tim Cook spoke with Trump on Sunday. The U.S. president said Cook made a “good case” that it would be hard for Apple to pay tariffs, when Samsung does not face the same level of duties given its manufacturing in South Korea.
European stocks rose on Monday as hopes emerged for stimulus from central banks and fiscal measures from major economies such as China and Germany. The pan-European Stoxx 600 closed provisionally up more than 1%, with basic resources surging over 2%. All sectors and most major bourses were in positive territory.
German Finance Minister Olaf Scholz said on Sunday that Germany has the fiscal strength to mitigate any future economic crisis with “full force” and suggested that Berlin could free up around 50 billion euros ($55 billion) of extra spending.
New motorways could attract investors to southwestern Serbia
The positive effects of capital infrastructure projects are multifold and new motorways could attract investors to southwestern Serbia, a less developed part of the country, says Bojan Stanic from the Chamber of Commerce and Industry of Serbia (PKS). "If you look at the map of current investments in Serbia, they are concentrated around Corridor 10, and if you follow that logic, in case Corridor 10 and Corridor 11 become fully functional by the end of the year, investors will base their decisions mostly on availability of modern functional infrastructure and will, therefore, decide to invest in southwestern Serbia," Stanic, assistant director of the PKS Sector for Strategic Analyses and Services, has told Tanjug.
Almost 85% of new factories opened along Corridor 10
Investing in infrastructure is the basic precondition for opening factories and job creation and nearly 85 pct of foreign investments in Serbia over the past five years have been launched along new motorways and the Corridor 10 route, says Chamber of Commerce and Industry of Serbia (PKS) President Marko Cadez. Major investments located along motorway routes are worth dozens of billions of euros and employ a hundred thousand people - that is why infrastructure is important, Cadez said.
MTLC: Metalac to report consolidated 6M numbers on Thursday, 22th August
Metalac, kitchenware manufacturer, announced that it will report 6M consolidated numbers on Thursday, 22th August. According to recently reported partial numbers for daughter units, we can expect similar numbers as a year ago, implying sales in a range of RSD 4.5-4.6bn with net profit at approximately RSD 300-350m.
Source: Belex, Iliirka
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