EU negotiations chapter 13 and 33 opened
Serbia opened another two chapters in its negotiation with the European Union in Luxembourg, at an intergovernmental conference – Chapter 33, Financial & Budgetary Provisions, and Chapter 13, Fisheries. With the two new chapters, Serbia now has a total of 14 open chapters, two of which are temporarily closed.
French companies interested in modernization of infrastructure in Serbia
Representatives of Serbian companies from the fields of construction, transport and infrastructure metcwith a delegation of the Movement of the Enterprises of France (MEDEF), which brings together companies which employ more than 400,000 people and have income of around EUR 125 billion. Minister of Construction, Transport and Infrastructure Zorana Mihajlovic hosted the meeting, where she pointed out that Serbia and France had good political and economic relations and that Serbia looked to attract as many French investments as possible in the next period.
China's Hisense acquires 94% stake in Gorenje
China's Hisense has acquired a 94% stake in Gorenje, seebiz.eu reports. This means that, if they want to, they will be able to squeeze out the remaining shareholders in Gorenje, which would enable them to manage the company more easily. Hisense offered EUR 12 for a Gorenje share in late May, thereby estimating the value of Gorenje at EUR 293 million.
Source: Ekapja, Seebiz
Stocks close higher after Monday's big loss but confusion about trade policies lingers, Europe ends on a mixed note, after trade concerns fuel recent sell-off
Stocks closed slightly higher on Tuesday as tech shares rebounded from steep losses in the previous session, but mixed messages from the Trump administration regarding trade kept a lid on gains. The Dow Jones Industrial Average rose 27 points, with Apple and Chevron rising 1.2 percent each. The S&P 500 gained 0.2 percent, as energy and tech both rose more than 1%, while Nasdaq composite advanced 0.4 percent as Netflix rose 3.9 percent, rebounding from steep losses in the previous session.
General Electric shares jumped 7.8 percent after the company revealed a plan to spin off its health-care business and sell its stake in Baker Hughes. The company also announced it will maintain its current dividend until the spin-off is complete.
Energy stocks jumped 1.4 percent after the State Department ordered companies who import Iranian oil to reduce them to zero by November.
European markets finished Tuesday's session in different directions, as investors tried to get to grips with the current trade conflict between the U.S. and other major economies The pan-European Stoxx 600 ended the day up 0.02 percent provisionally, off from its session highs. Major industries in the region, however, pointed in different directions by the close, echoing a similar picture seen in other major markets.
Looking across the European benchmark, Ingenico jumped 5.85 percent, making it one of Tuesday's biggest gainers, after Bloomberg reported that the company is on track to get a takeover bid from private equity firms.
Elsewhere, ProSiebenSat.1 rose 1.75 percent and Wirecard jumped almost 4.5 percent, after UBS lifted its target price on both German-listed stocks.