One company interested in PKB, seven eyeing RTB Bor
One company has bought the documentation at the tendering for the privatization of PKB, and seven companies have bought the documentation at the tendering for a strategic partner for RTB Bor, State Secretary at the Ministry of Economy, Dragan Stevanovic, said. He invited everyone who thinks that the initial price of EUR 104.5 million for PKB is low to pay it.
MTLC: Metalac cookware unit posted symbolic sales growth in 1H 2018
Metalac (MTLC) reported non-consolidated numbers for 2Q18 and 6M 2018, while report presented, as usual, numbers for daughter units. Major production unit, Metalac cookware posted 3.5% sales growth, while operating profit remained flat y/y. Metrot company, which places products in Russia, saw 6% drop in sales, while operating profit was down 80% y/y. The company is about to report 1H consolidated numbers on Friday.
Source: Belex, Ilirika
Crisis with lira will not affect Serbia directly
Drop of Turkish lira will not affect investments from that country in Serbia, domestic economist Zoran Grubisic said to local press. Crisis in Turkey may affect Serbia due to problems in euro zone, since it will be impacted by Turkish debt and lira denominated EU bank’s placements. Grubisic expects investments inflow from Turkey into Serbia will be continued since Central Bank of Turkey still maintains low rates and loans are cheap.
Source: b92, Ilirika
SBITOP gained 0.12%
Slovenian SBITOP was also affected by crisis in Turley these days, while yesterday it gained light 0.12%. Top gainer was Intereuropa, since it added 10.3%, while top looser was petroleum company Petrol, as it lost 1.7%. This was also the most traded name, with EUR 427ths in volume.
Source: LJSE, Ilirika
Dow jumps more than 100 points, snaps 4-day slide as Turkish lira rebounds from record low, European markets close unchanged after an initial rebound from Turkey fears
Stocks rose on Tuesday as a rebound in the Turkish lira from an all-time low lifted investor sentiment. The Dow Jones Industrial Average rose 112.22 points to close at 25,299.92, while the S&P 500 gained 0.6 percent to 2,839.96. The Nasdaq Composite advanced 0.7 percent, closing at 7,870.89.
The lira rose about 8 percent to 6.36 after falling to a record-low 7.24 per dollar on Monday. The currency has been under pressure recently as market watchers became jittery over rising tensions between Turkey and the U.S. Last week, U.S. President Donald Trump said that he supported doubling metal tariffs on Turkey.
Home Depot reported second-quarter earnings and revenue easily topped Wall Street estimates. The company also raised its full-year earnings outlook. The stock briefly traded higher before falling 0.5 percent.
European stocks traded lower Tuesday afternoon, even as concerns over Turkey's economic woes eased. The pan-European Stoxx 600 ended Tuesday provisionally higher by 0.02 percent with a number of sectors trading in positive territory. Most positive sentiment was partially driven by corporate earnings.
RWE ended higher by 3.6 percent after the German firm announced that it still planned to increase its dividend for the 2018 fiscal year.
German growth figures rose in the second-quarter, but economists are concerned that global trade tensions and the ongoing currency crisis in Turkey could bring problems to the economic engine of Europe.