Stocks jump after Trump says a China deal could come soon, Ukraine call memo released; European stocks close lower as Trump faces impeachment inquiry, US-China trade tone hardens
Stocks rose on Wednesday after President Donald Trump said a U.S.-China trade deal could arrive sooner than expected. Investors also pored through a rough transcript of Trump’s call with the Ukrainian president from earlier this year. The Dow Jones Industrial Average closed 162.94 points higher, or 0.6% to 26,970.71. The S&P 500 gained 0.6% to end at 2,984.87 while the Nasdaq Composite climbed 1.1% to 8,077.38.
Nike shares were among the biggest contributors to the Dow’s gains. The shoe maker’s stock rose 4.2% on better-than-expected quarterly results. CEO Mark Parker said a stronger e-commerce business and products such as the new Joyride running shoe lifted the Nike’s results.
Stronger-than-expected new U.S. home sales data also mitigated some of the uncertainty coming out of Washington.
The pan-European Stoxx 600 was 0.7% lower at the end of the session, with technology stocks leading losses on a 1.2% decline as almost every sector and all major bourses traded in the red. Market focus was largely attuned to news of a bid from Democrats in the U.S. House of Representatives to impeach President Donald Trump.
British American Tobacco gained 3% and Imperial Brands 2% after peers Philip Morris and Altria ended merger discussions.
FINT: Kosava Wind Farm opens near Vrsac – New one, largest in Europe, planned near Sombor
The Kosava 1 Wind Farm, the third and the largest wind farm of MK Fintel Wind in Serbia, after the Kula Wind Farm and La Piccolina Wind Farm near Vrsac, officially opened in Izbiste near Vrsac today. With a total power of 69 MW and 20 wind generators, Kosava 1, which started working two years ago, will supply 45,000 households, and the investment is worth EUR 118 million. According to the Minister of Mining and Energy of Serbia, Aleksandar Antic, the new project will begin in 2 to 3 years, have 600 MW of installed power and be competitive with gas and coal power plants. It will be connected to the network in 5 to 6 years.
OTP completes purchase of Societe Generale's Serbian unit
Hungarian banking group OTP has completed the acquisition of the Serbian unit of French banking group Societe Generale, the local subsidiary of OTP said on Wednesday. Societe Generale Serbia will be operating under the OTP Banka Srbija name, while its full merger with Vojvodjanska Banka, another Serbian unit of OTP, is planned to be completed in 2021, OTP Banka Srbija said in a statement. No financial details on the transaction were disclosed.
Serbian July average net salary 55,042 dinars, 10.1% up
The average net monthly salary in Serbia was 55,042 dinars in July, rising 11.9 pct in nominal and 10.1 pct in real terms compared to the same month of last year, the national statistical office RZS has announced in a statement. The July average gross salary was 76,056 dinars, rising 11.8 pct in nominal and 10 pct in real terms y-o-y.