AERO: Commission for Protection of Competition approves concession of Nikola Tesla Airport
The Commission for Protection of Competition approved the concentration of undertakings created by acquisition of control on the part of company Vinci Airports Serbia over business operations of company AD Aerodrom Nikola Tesla, relating to airport management operations at Nikola Tesla Airport in Belgrade. The subject of target business operations relates to concession assets, as defined in the Concession agreement for financing, development through construction and reconstruction, maintenance and management of the infrastructure of AD Aerodrom Nikola Tesla Beograd and carrying out airport operator activities at AD Aerodrom Nikola Tesla in Belgrade, the Commission announced.
Serbian 4 months CA gap reached EUR 870m
Serbia's current account deficit widened to 870 million euro ($1.006 billion) in the first four months of 2018, from 786 million euro in the like period of last year, the central bank, NBS, said.
Trade in goods showed a deficit of 1.553 billion euro in the January-April period, while trade in services recorded a surplus of 299 million euro, data posted on the website of NBS showed. In April alone, Serbia's current account balance showed a deficit of 234 million euro, compared to a deficit of 91 million euro a year earlier. In 2017, Serbia's current account deficit widened to 2.09 billion euro from 1.075 billion euro in the previous year.
Construction companies from Serbia active in Russia mostly – Total value of works carried out abroad amounts to RSD 36.5 billion
The Statistical Office of the Republic of Serbia announced that the total value of the works carried out by contractors from Serbia abroad in 2017 amounted to RSD 36,581 million, as reported on the website of the Government of Serbia. Most activity was recorded in Russia (46.6%), Montenegro (12%), Germany (6.8%) and Uganda (6.3%). In 2017, the value of the construction works on buildings was RSD 24,088 million, close to 65.8% of the total value.
Sberbank to own 39.2% of Agrokor – Creditors unanimously support agreement
The biggest co-owner of the new Agrokor will be Sberbank, with a 39.2% stake, bondholders will have 25%, VTB Bank will own 7.5% and 2.3% will belong to Zagrebacka Banka, the extraordinary trustee for Agrokor, Fabris Perusko, said on Tuesday, June 19, 2018. He said that there were four Croatian companies among the non-bank co-owners – Adris, with a 1.4% stake, Franck with 1.3% and Saponija and Sokol Maric with 0.6% each, Seebiz reports.
Nasdaq posts record close as Facebook and Netflix rise to all-time highs, Europe ends on a mixed to positive note as trade war fears rumble on, OPEC in focus
The Nasdaq composite and S&P 500 closed higher on Wednesday, boosted by dealmaking activity and potentially improving trade relations between the U.S. and the European Union. The tech-heavy Nasdaq rose 0.7 percent to 7,781.51 to close at an all-time high, led by Facebook and Netflix, which also reached record levels. The S&P 500 gained 0.2 percent to end at 2,767.32, with real estate stocks outperforming.
Dow however, lost 0.17%.
Disney raised its bid for Twenty-First Century Fox assets to $38 per share, or $71.3 billion, surpassing an offer made by rival and NBCUniversal parent Comcast. Last week, Comcast bid $65 billion in cash for Fox assets which include FX, Star TV and stakes in Sky. The bid sent Fox shares higher by 7.5 percent.
Starbucks shares dropped by 9.1 percent after announcing it plans to close more than 150 stores in the next year and after lowering its sales guidance for the third quarter. The stock also posted its worst day since July 2017 and is on track for its worst week since 2016.
European stocks finished trading mostly in the black on Wednesday, although elevated fears of a full-blown Sino-U.S. trade war continued to linger. The pan-European Stoxx 600 ended the session provisionally up 0.28 percent, with the majority of sectors closing in positive territory.
In banks, the CEO of Banco BPM said that the lender was ready to sell its debt collection business, if potential buyers are willing to take on the majority of its bad loans. Shares of the Italian lender rose 2.7 percent. A slew of other Italian banks such as Unicredit and Intesa Sanpaolo joined Banco BPM, closing above 1.5 percent, near the top of the sector.
Another topic keeping investors busy concerns oil. In Europe, OPEC ministers were seen gathering in Vienna ahead of a key summit to decide oil production policy on Friday. Oil prices ticked higher on Wednesday afternoon, but the sector closed down 0.89 percent.