Daily Report 30.08.2019
Datum objave: 30.08.2019
Dow surges more than 300 points after China hints it won’t retaliate for now in trade war; Europe stocks close higher as China says it wants ‘calm’ trade resolution; Micro Focus down 31%
Stocks jumped on Thursday after China said it wished to resolve its protracted trade dispute with the world’s largest economy with a “calm ” attitude.
The Dow Jones Industrial Average closed 326.15 points higher, or 1.3% at 26,362.25. The S&P 500 gained 1.3% to close at 2,924.58 while the Nasdaq Composite advanced 1.5% to 7,973.39.
In economic news, second-quarter U.S. GDP growth was revised down to 2% from 2.1%. The revision was in line with analyst expectations. Pending home sales for July will follow slightly later in the session.
European markets closed higher on Thursday as investors monitored developments in the U.S.-China trade war and digested comments from central bank officials.
Stocks trimmed gains slightly during the afternoon session, after European Central Bank (ECB) policymaker Klass Knot said he saw no reason for quantitative easing to be resumed in the region, according to Bloomberg. Soft inflation data had earlier reinforced expectations that the ECB will inject stimulus into the economy next month, providing an additional boost to stocks.
British software firm Micro Focus slightly pared early losses which saw shares hit their lowest level since April 2018 after the company cut its full-year guidance. The company’s stock was trading around 32% lower during the afternoon session.
NIIS: NIS invests in lab upgrade
The petroleum company Naftna industrija Srbije (NIS) has invested 30 mln dinars in an upgrade of its aviation fuel quality control laboratory within a servicing facility at Belgrade's Nikola Tesla Airport. The upgrade is aimed at improving the safety of passengers aboard aircraft. Downstream Laboratory Department head Natasa Badrljica said the upgrade had implied purchases of equipment for monitoring the quality of jet fuel, such as devices for determining distillation properties, the freeze and flash points and density.
Serbian unemployment rate down to 10.3 pct
The unemployment rate in Serbia has dropped to 10.3 pct, its lowest level in decades, Serbian President Aleksandar Vucic said Thursday. On the other hand, the employment rate is at 49.2 pct and it is higher than ever in the past several decades, Vucic told reporters after visiting the Belgrade Emergency Medical Service. Congratulating all authorities that had been working to achieve those results, Vucic noted Serbia would continue to work to reduce unemployment below 10 pct.
Invej takes over 18.4% of Milan Blagojevic shares
The Zemun-based company Invej has successfully completed the takeover of a part of shares of the Smederevo-based company Milan Blagojevic. Together with the related entities, it now owns 92.1% of the company’s shares, it was announced on the Belgrade Stock Exchange. Invej offered to take over 26.3% at the price of RSD 3,360 per share and managed to buy 18.4% of Milan Blagojevic. The Smederevo-based company produces electric and non-electric home devices, and Invej is a production, local and foreign trade, tourism and services company.
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