SJPT: Sojaprotein shares excluded from Belgrade Stock Exchange listing
On June 18, the shares of Sojaprotein from Becej were excluded from the Prime Market listing of the Belgrade Stock Exchange and admitted to the Open Market. The indicative price for the first trade will be RSD 174, the price from the closing on Friday. The decision on excluding Sojaprotein's shares from the listing was made by the Listing Committee after the company published the 2017 reports with a negative opinion of the auditor.
ALFA: Alfa Plam GM approves dividend of RSD 1,000 per share
The GM of the Vranje-based producer of ovens and stoves Alfa Plam, held on June 7, approved all the proposals, including the distribution of profit. As in the past several years, the management proposed for a dividend of RSD 1,000 per share to be paid to shareholders (yield 2.9%), that is, a total of RSD 157.3 million.
German firms increasingly looking for Serbian suppliers
German companies are increasingly looking for suppliers in Serbia due to competitive prices and good quality and are particularly interested in the metal processing sector, the automotive industry, electronic components and plastic and metal materials. Over 30 Serbian companies held B2B meetings with a total of 133 German firms at a Suppliers Day in Frankfurt on Tuesday as part of an initiative aimed at finding suppliers in Western Balkan states.
Slovenia's Petrol targets cons net profit of 116 mln euro in 2022
Slovenian energy group Petrol said that it expects its consolidated net profit to reach 116 million euro by 2022, up 33% compared to the 2018 plan. Consolidated sales revenue will exceed 5 billion euro by 2022, up 17% relative to the 2018 plan, while EBITDA is expected to jump 37% compared to this year's forecast to 233 million euro, Petrol said in a Ljubljana bourse filing, after adopting its strategy for the period 2018 – 2022.
Dow tumbles about 300 points, wipes out gains for year, as Trump directs more tariffs at China, European stocks end on a gloomy note
Stocks fell on Tuesday after President Donald Trump's latest threat to China increased fears of an impending trade war between the world's largest economies. The Dow Jones industrial average fell 1.1%, with Boeing, DowDuPont and Caterpillar as the worst-performing stocks in the index. The S&P 500 dropped 0.4 percent, with materials, industrials and tech lagging, while the Nasdaq composite traded 0.3 percent lower.
Shares of some of the biggest chipmakers fell given their large exposure to China. Qualcomm and Nvidia both dropped at least 1 percent. Semiconductor and semiconductor equipment companies have a revenue exposure of 52 percentto China, according to a recent report from Morgan Stanley.
Ford Motor, which also does a large amount of business in China, saw its stock pull back about 1.4 percent. Meanwhile, Caterpillar and Boeing — considered to be two bellwethers for trade tensions on Wall Street —both dropped at least 3.5 percent.
European equities finished Tuesday's session in the red, as market-watchers across the globe continued to show concern over the possibility of a trade war between the U.S. and China. The pan-European Stoxx 600 provisionally ended 0.7 percent down, well off its session lows. Almost all sectors finished the session in negative territory, with the exception of banks and utilities.
Looking across European stocks, basic resources was the worst performing sector Tuesday, off 2.47 percent by the close. Kaz Minerals was the sector's and the STOXX 600's biggest loser, slipping 6.8 percent. Other sectors to post heavy losses included autos, industrials and technology.
In individual stock news, there were only a handful of stocks that posted significant gains by the close. Inmarsat popped 3 percent, after reports that Echostar is considering increasing its bid after the former rejected a previous offer.