INO:
S&P 500 and Nasdaq inch higher to record highs with Disney pacing gains; European stocks close higher amid hopes US will delay EU tariffs
Wall Street continued its run to record highs on Tuesday, led by strong gains in Disney and Facebook shares. The market was slightly higher amid remarks from President Donald Trump, who hinted at Chinese enthusiasm for a trade deal, while knocking them for cheating the U.S. in past agreements.
The S&P 500 climbed 0.2% to 3,091.84, hitting a fresh intraday record. The Nasdaq Composite advanced 0.3% to 8,486.09, notching intraday and closing records. The Dow Jones Industrial Average, meanwhile, closed completely unchanged at 27,691.49 after coming within a whisker of hitting an all-time high.
Disney shares rose more than 1% after launching its Disney+ streaming service. The platform suffered technical errors just hours after the launch as demand surged. Facebook, meanwhile, gained 2.6% after announcing a new payments tool that can be used through its applications.
European stocks closed higher on Tuesday amid hopes that U.S. President Donald Trump will delay a decision on whether to impose tariffs on EU autos. The pan-European Stoxx 600 was up by around 0.5%, with telecoms stocks leading gains. Iliad was the top driver in the sector, up 20% on the back of strong earnings and the unveiling of a new share buyback plan.
Chipmaker Dialog Semiconductor jumped nearly 7% after updating its long-term guidance.
Deutsche Post beat analyst expectations to post an almost three times increase in third-quarter operating profit before the bell, with earnings jumping to 942 million euros from 376 million a year ago. The company’s shares climbed almost 4%.
Source: CNBC
SERBIA:
Fiscal Council: Higher growth requires structural reforms
Serbia is seeing a trend of 3-3.5 pct growth - which is lower than the growth in central and eastern European countries - but it has real potential for growth at a rate of around 5 pct, Fiscal Council President Pavle Petrovic said Tuesday. Speaking at a conference hosted by the Belgrade Stock Exchange, he said 5 pct growth would enable Serbia to catch up with central and eastern European countries and added that this was possible but required structural reforms. He said 2020 fiscal policy plans were good in the narrow sense considering the low consolidated budget deficit of 0.5 pct of GDP, which he said was appropriate for Serbia and enabled a considerable reduction of public debt.
Source: Tanjug
Gas supplies from Bulgaria to Serbia to begin by May 2020
Gas supplies from Bulgaria to Serbia via the TurkStream pipeline will begin by May 2020, Bulgarian PM Boyko Borisov said Monday, adding that Bulgaria was building 5 km of pipeline a day. "When we do our share of the work and Serbia does your share of the work, we will start a business using our gas pipelines, motorways and rail lines. Both countries will be collecting fees," Borisov told Serbian Prva TV. He said Bulgaria had an agreement with Moscow on supplies of Russian gas until 2030.
Source: Tanjug
Government reaches decision on issuing long-term government bonds on international financial market
The Government of Serbia has reached the decision on issuing long-term government bonds on the international financial market, through which the most favorable financial means for the exchange of the more expensive debt which is due in 2020 will be procured. With the issuing of bonds on the international capital market, Serbia is becoming visible and recognizable to foreign investors, and through this way of financing it reduces the risk and the costs of borrowing in the upcoming time period – the government says on its website. This decision enables the issuing of long-term government bonds on the international financial market in line with the best European practice.
Source: Ekapija