Daily Report 05.09.2019
Datum objave: 05.09.2019
Dow jumps more than 200 points as Hong Kong tensions ease, tech shares rally; European stocks close higher as Brexit chaos rumbles on and Hong Kong tensions ease
Stocks rose sharply on Wednesday as tensions in Hong Kong between the government and protesters eased after the withdrawal of a controversial bill. The Dow Jones Industrial Average closed 237.45 points higher, or 0.9% at 26,355.47. The S&P 500 gained 1.1% to close at 2,937.78, led by a 1.7% surge in the tech sector. The Nasdaq Composite advanced 1.3% to 7,976.88.
Micron Technology was among the best-performing tech stocks, rising 4.1% after an analyst at Mizuho Securities raised his price target on the chipmarker. Intel was the best-performing stock in the Dow, rising 4.1%.
Bank stocks got a boost as the U.S. yield curve uninverted, with the 10-year rate trading above its 2-year counterpart. Bank of America and Citigroup gained more than 1.3% each while J.P. Morgan Chase advanced 1.2%.European stocks closed higher Wednesday after British lawmakers defeated Prime Minister Boris Johnson’s government in a vote to seize control of parliamentary business, moving closer to blocking a no-deal Brexit.
The pan-European Stoxx 600 was up 0.9% at the closing bell, basic resources jumping 2.9% to lead gains as all sectors and major bourses traded in positive territory.
France’s Valeo saw its shares gain 7.6% to top the Stoxx 600 by the end of trade, while French electronics group Thales saw its shares rise by 5.4% following strong first half results.
Serbia's end-July budget surplus at 48.5 bln dinars
Serbia registered a 48.5 bln dinar budget surplus at the end of July 2019, the Ministry of Finance said Wednesday. Revenues totalled 737.3 bln dinars, with expenditures at 688.8 bln dinars. In July alone, the surplus was 27.1 bln dinars, with tax revenues (110.6 bln dinars) accounting for most of the total revenues of 125.5 bln dinars. Under an annual plan, a 5.1 bln dinar general government deficit was planned for the period, meaning that the achieved result is 43.1 bln dinars better than planned, the Ministry said in a statement.
EPS Serbia's largest company, NIS most successful
The national electric power company EPS was Serbia's largest enterprise in 2018 with business revenues of 263.9 bln dinars, which is a 4.7 pct increase y-o-y, the Serbian Business Registers Agency announced Wednesday. The EPS revenues make up 2.5 pct of the business revenues generated by the entire economy, a press conference was told following the release of a list of Serbia's Top 100 companies in 2018. The petroleum company NIS was the most successful company in the country, ranking second in terms of business revenues with 258.5 bln dinar revenues, which is a 19.8 pct rise y-o-y. In the group of companies with the highest net profits resulting from FDI, Bor-based Zijin Mining (the former mining and smelting complex RTB) led the pack with 90.05 bln dinars.
Serbia's public debt at 51.9 pct of GDP at end-July
Serbia's public debt stood at 23.84 bln euros - or 51.9 pct of GDP - at the end of July 2019, the Serbian Ministry of Finance announced Wednesday. The July public debt was slightly higher from 23.55 bln euros - or 51.4 pct of GDP - in June. At the end of 2018, the public debt totalled 23.01 bln euros - or 53.8 pct of GDP.
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