Daily Report 02.09.2019
Datum objave: 02.09.2019
Stocks close little changed as Wall Street wraps up volatile August; Europe closes higher on signs of trade war easing; Italy stocks falls; Deutsche Wohnen up 9%
Stocks were little changed on Friday as investors took a breather following a wild month of trading. The Dow Jones Industrial Average closed 41.03 points higher, or 0.1% at 26,403.28. The S&P 500 ended the day just above the flatline at 2,926.46 while the Nasdaq Composite slipped 0.1% to 7,962.88.
U.S. economic data has been strong. U.S. consumer spending rose 0.6% in July, the Commerce Department said Friday, topping a Reuters estimate of 0.5%. Meanwhile, consumer confidence remains near its highest level in nearly 20 years.
European stocks closed higher on Friday after China struck an accommodating tone over its trade war with the U.S., while British opposition lawmakers plan to trigger an emergency debate to prevent a no-deal Brexit.
The pan-European Stoxx 600 ended the session 0.6% higher, with almost every sector in positive territory and China-exposed basic resources stocks jumping 2.5%.
In corporate news, Reuters reported on Thursday that French lender BNP Paribas plans to bid for Deutsche Bank’s equity derivatives book, with the intention of securing a deal within the next few weeks.
Bloomberg about Serbia: Fortune buried in a forgotten corner of Europe
It has been estimated that Serbia has the largest lithium reserves in Europe – the US economic website Bloomberg writes in the article titled “There May Be a Fortune Buried in a Forgotten Corner of Europe”. The global hunt for lithium is afoot as companies look to cut fossil-fuel use. BloombergNEF estimates battery demand for lithium material will grow eightfold over the next 11 years. Serbia’s estimated deposits are the largest in Europe and the insatiable appetite for batteries that power everything from iPhones to Tesla cars is prompting the likes of Rio Tinto Group to study the viability of mining it.
Majority of Serbian water companies owned by foreigners
Of the estimated 400 sources of drinking water in the country, Serbia uses only one fifth and more than 30 companies are bottling mineral water. Although the law does not allow selling a source of water to a foreigner, more than half of the bottled water in the market is in the hands of non-Serbian companies, writes the Danas daily. It is estimated that up to 80% of the water in the market is foreign-owned; however, there are factories in Serbia that are in the hands of foreign companies, but are supported by Serbian capital.
Serbia had to ensure exit strategy for the Agreement with Eurasian Union
The agreement with Eurasian Union (EAEU) has to have a clause which guarantees Serbia’s right to leave the EAEU union after it's EU accession. European Parliament Foreign Affairs Committee Chairman and until recently a Rapporteur of this institution to Serbia David McAllister said for Radio Free Europe. He said for Radio Free Europe that the text of EAEU bilateral free trade agreement should be in line with Belgrade's commitments arising from the Stabilization and Association Agreement, that is, it should consist of "an exit clause that guarantees Serbia's right to leave the EAEU upon joining EU".
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