INO:

Stocks post three-day losing streak; European stocks close lower amid mixed signal on U.S.-China trade; European stocks close higher as investors track trade and key euro zone data

Stocks rose slightly on Friday, but posted their first weekly decline in over a month amid lingering worries around U.S.-China trade talks. The Dow Jones Industrial Average climbed 109.33 points, or 0.4% to 27,875.62. The S&P 500 gained 0.2% to 3,110.29 while the Nasdaq Composite advanced 0.16% to 8,519.88.
On the data front, consumer sentiment for November came in better than expected. The index rose to 96.8 from 95.5 in October. IHS Markit’s gauges for the U.S. services and manufacturing sectors also rose.
In corporate news, Nordstrom rallied more than 10% on better-than-expected earnings. The stock was also the best performer in the S&P 500. Intuit slid more than 4% and was among the broad index’s worst-performing stocks on the back of disappointing earnings guidance.
European stocks closed in positive territory on Friday as investor optimism was largely lifted by developments in ongoing U.S.-China trade negotiations. The pan-European Stoxx 600 was provisionally 0.4% higher at the closing bell, with positive news on the trade war outweighing weak economic data out of the euro zone. Basic resources stocks added 1.8% to lead gains as most sectors and major bourses advanced. Back in Europe, Germany avoided a recession in the third quarter as GDP (gross domestic product) expanded by 0.1% on the back of a 1% increase in exports, official statistics published Friday morning revealed.
In terms of individual stocks, Umicore stock fell 4%, while Johnson Matthey slipped 4.7% after price target cuts from UBS and Deutsche Bank.
Source: CNBC

SERBIA:

NBS raises Serbia's 2019 growth forecast from 3.5% to 3.6%

Governor Jorgovanka Tabaković has met today in Belgrade with Deputy Managing Director at the IMF Tao Zhang and informed him that the NBS has raised Serbia’s growth forecast for this year. Governor Tabaković reminded that the projection was raised from 3.5% to at least 3.6%, with realistic chances that growth may be even higher, as particularly suggested by trends in the construction sector. The Governor reiterated that an equally important fact is the changed growth model – the growth which used to be based on unsustainable consumption is led today by investment, exports and a sustainable rise in consumption, the National Bank of Serbia (NBS) says on its website. The share of fixed investment in GDP is expected to exceed 23% this year and 25% in the medium run, the governor said.
Source: Ekapija

EBRD: Serbia's 2019 GDP growth to be 3.2 pct

The European Bank for Reconstruction and Development (EBRD) is forecasting Serbia's GDP growth to be 3.2 pct in 2019 and accelerate to 3.5 pct in 2020. At the presentation of the 2019-2020 transition report titled Better Governance, Better Economies, EBRD Chief Regional Economist Peter Tabak said Serbia had last year seen the quickest economic growth in years - 4.4 pct. This year's slowed growth is a result of stalled growth in EU member states - which are Serbia's main export markets - especially in Germany, he said.
Source: Tanjug

Biznis i finansije magazine declares NIS as the most successful company in Sernia for 2018

The petroleum company NIS was the most successful company in Serbia last year as all of its business results came from basic operations, but it ranks third in terms of profits and second in terms of revenues, according to a ranking presented by the Biznis i finansije monthly on Friday. "Of the four most profitable companies in 2018 - Zijin Bor Copper, NIS, Nikola Tesla Airport and Al Dahra Serbia - only NIS generated profits from basic operations," the magazine said. It said other companies had "soared" thanks to acquisitions by foreign investors and their initial investments. In 2018, NIS saw revenues of 258.5 bln dinars and annual growth of 19.8 pct, generating profits of 26 bln dinars - 6.2 pct less than in the previous year.
Source: Tanjug