Stocks eke out a record close, but Wall Street remains cautious on upcoming earnings reports; Europe stocks close higher after China data meets expectations; Galapagos up 18%
Stocks rose to notch a fresh record close on Monday, but the gains were muted as Wall Street remained cautious to start off the corporate earnings season. The Dow Jones Industrial Average closed 27.13 points higher, or 0.1%, at 27,359.16. The S&P 500 ended the day just above the flatline at 3,014.30. The Nasdaq Composite advanced 0.2% to 8,258.19. The major indexes also posted intraday all-time highs earlier in the session.
Citigroup kicked off the earnings season by reporting second-quarter numbers that topped analyst expectations. Gains from the initial public offering of Tradeweb, an electronic bond trading platform, drove the bank’s results past Wall Street estimates. Citigroup shares traded higher in the premarket after the results were released, but quickly fell after the open to close less than 0.1% lower.
European stocks returned to positive territory Monday afternoon, during a choppy session amid worries China’s economy is slowing due to a trade war with the U.S. The pan-European Stoxx 600 rebounded from early losses to trade provisionally 0.48% higher by the close. Telecoms stocks fell 0.7% while Autos led gains with 0.84% rise.
Shares of drinks giant AB InBev were down around 0.6% after it shelved plans for an Asian stock market listing.
Serbia, France sign 22 agreements
Delegations of France and Serbia signed on Monday in Belgrade 22 bilateral agreements in the fields of the economy, the military industry, education and culture and the presidents of the two countries exchanged five documents at a press conference. The documents are a statement of intent on implementation of a project to build a Belgrade metro, an agreement between Beocista energija and the Belgrade Power Stations on purchase of heat energy, an agreement with the company MBDA on delivery of Mistral missiles, an agreement on cinema coproduction and an intergovernmental agreement on the status of the French School in Belgrade.
Energoprojekt expects EUR 249m in sales and EUR 8m in FY 2019 profit
Serbian construction company, Energoprojekt (ENHL) plans to achieve EUR 249m in sales for 2019 (up 26% y/y), with approximately EUR 8m in a profit (flat for pre-tax line), the company’s CEO said during the recent 68th anniversary. The company expects to contract EUR 273m of new jobs in 2019, while 1Q period saw EUR 46.1m contracted.
Source: Beta, Ilirika
May saw 1,822 construction permits issued – value of works up 150%
There were 1,822 construction permits issued in Serbia during the month of May, Serbian Statistical Office reported. This is up 5.95 y/y, while value of construction works from the same month was up 150% y/y, the same report said.
Source: SORS, Ilirika