Serbia's real net wage rises in May
Serbia's average net wage increased by a real 4.7% year-on-year in May, following a 5.5% annual rise in April, data from the country's statistical office showed on Wednesday. On a monthly comparison basis, the average net wage was 2.0% higher in real terms in May, after falling by 1.0% in April. In nominal terms, the average net wage totalled 426 euro ($498.2) in May, up 6.4% on the year.
Only 7% of property in Serbia insured
The insurance of movable and immovable property in Serbia is still on a very low level, and the data of insurance companies say that it stands at merely 7%. This is not good news, considering that severe adverse weather has been forecast this season in Serbia, which could cause large material damage. The data of the Ministry of Agriculture show that, lately, 21 local self-governments in Serbia have been struck by adverse weather, with damage done to residential buildings, agricultural land, vehicles and public infrastructure, Kamatica writes.
Fintel launches first IPO at BSE since 1940
Fintel company announced that it has just launched the IPO process at Belgrade Stock Exchange. The company intends to attract EUR 27m of capital, which will be used for investments of its Serbian operations. In total 6,500,000 ordinary shares are offered at a price of RSD 500 per share. Subscription period is 1st August - 29th October, this year.
Source: N1, Ilirika
EBRD mulls acquiring stake in Slovenia's Petrol
The European Bank for Reconstruction and Development (EBRD) is interested in acquiring a stake in Slovenian energy group Petrol [LJSE:PETG] from Slovak-Czech J&T financial group, which controls 12.8% of the company, local media reported. EBRD has been negotiating the purchase of J&T's stake in Petrol for some time, as the Slovak-Czech group is determined to withdraw from the Slovenian company, news portal Siol.net reported on Monday.
Dow surges more than 150 points in sudden move after Trump reportedly gets concessions from EU to avoid a trade war, European markets close lower ahead of US-EU meeting, Deutsche Bank shares down 1.4%
Stocks closed sharply higher on Wednesday after President Donald Trump reportedly obtained concessions from the European Union to avoid a trade war. The Dow Jones Industrial Average rose 172.16 points to close at 25,414.10. The Nasdaq Composite jumped 1.2 percent to an all-time high of 7,932.24 as Google-parent Alphabet, Facebook and Amazon all jumped. The S&P 500 gained 0.9 percent. Dow Jones reported, citing an EU official, that the EU has agreed to import more U.S. soybeans. Dow Jones also said the EU agreed to lowering tariffs on industrial goods.
Investors also pored through a slew of corporate earnings reports. Both Boeing and General Motors reported better-than-expected quarterly earnings, but their full-year forecasts disappointed Wall Street. Boeing dropped 0.7 percent while General Motors fell 4.5 percent.
Anthem and Dow-component Coca-Cola reported earnings that topped estimates. Shares of Anthem closed 0.8 percent higher, while Coca-Cola rose more than 1.5 percent.
European markets closed lower Wednesday, as investors awaited a key meeting between the European Commission and President Donald Trump and digested fresh earnings.The pan-European Stoxx 600 closed down 0.3 percent with the different sectors moving mostly lower.
Deutsche Bank shares closed 1.4 percent lower after reporting a net profit of 401 million euros ($468 million) during the course of its second quarter. Furthermore, Indivior shares fell as much as 7.7 percent after reporting a 24 percent drop in second-quarter pretax profit.
Shares of Fiat Chrysler also fell following comments from the company's new CEO that its outlook had been lowered. The announcement came only two hours after news that former chief Sergio Marchionne had passed away. Fiat shares closed down by nearly 15 percent.