Stocks jump led by Apple after US delays some China tariffs; European stocks close higher as US delays China tariffs on phones and clothing
Stocks soared on Tuesday after the U.S. decided to delay tariffs on certain Chinese goods while outright removing some items from the tariff list, reigniting hopes Washington and Beijing could reach a long-term resolution.
The Dow Jones Industrial Average jumped as much as 529 points, finished the day 372.54 points higher, or 1.44%, at 26,279.91. The S&P 500 rose 42.57 points or 1.48% to 2,926.32 and the Nasdaq Composite was 1.95% higher to 8,016.36, led by Apple which surged more than 4%.
European stocks reversed course on Tuesday, closing higher as investors reacted to news that the U.S. has delayed additional tariffs on some Chinese imports. The pan-European Stoxx 600 closed provisionally up 0.6%. Markets had traded lower earlier in the session. Trade-sensitive sectors like autos and basic resources were among the biggest gainers.
Henkel, saw its shares slide 7% after lowering its full-year outlook for sales and earnings on Tuesday. The German consumer goods firm blamed disappointing performance at its beauty unit and falling industrial production.
Serbia takes first place in greenfield direct foreign investments globally
Serbia is the top country in the world looking by the performance index of greenfield direct foreign investments, as the regulatory reform, low labor costs and access to the EU market have more than made up for the country's disappointing economic performances, the Financial Times reported on August 3. The index shows that Serbia attracted 12 times more greenfield direct foreign investments in 2016 than was expected from an economy of that size. FT writes that, in 2016, foreign investors announced 77 greenfield projects, compared to 57 in 2015, of which more than a half (53%) in the manufacturing industry, primarily in the production of electronic components and car parts, whereas real estate
Fiat to manufacture seven-seater SUV based on "tipo" model in Kragujevac
The President of Fiat Automobiles Brand Global Olivier François has confirmed that the company planned to make an SUV based on the “fiat tipo” model in Kragujevac factory. Francois confirmed they were working on a midsize family crossover SUV. The new model will probably be manufactured in the Serbian factory together with the renewed Fiat 500L line with new mild hybrid engine and Firefly gasoline engines, Italian media report. Aside from that, the report adds that Fiat Chrysler Automobiles (FCA) planned to enter the electric car market, an idea the former CEO Sergio Marchionne previously dismissed but now presents to key to reviving this brand from Torino.
Victoria offers RSD 180 per share for remaining stake at Sojaprotein
Victoria Group, announced that it offers RSD 180 per share for remaining stake of 10% at soybean processor Sojaprotein. This is only slightly higher versus current market price at RSD 175 per share. These shares can be sold until 2nd September this year, the report from BSE says.
Source: Tanjug, Ilirika