Dow falls amid lackluster jobs data after briefly topping 29,000 for the first time; European stocks close lower as US imposes fresh sanctions on Iran
Stocks fell on Friday, reversing from all-time highs, as investors digested weaker-than-expected jobs data to end a volatile week full of geopolitical concerns. The Dow Jones Industrial Average closed 133.13 points lower, or 0.5% at 28,823.77. Earlier in the session, the 30-stock average broke above 29,000 for the first time ever. The S&P 500 lost 0.3% to end the day at 3,265.35. The Nasdaq Composite also dipped 0.3% to 9,178.86.
The U.S. economy added 145,000 jobs in December. Economists polled by Dow Jones expect the U.S. economy to have added 160,000 jobs in December.
The pan-European Stoxx 600 had dipped below the flatline by the closing bell, with most sectors and all major bourses in the red. The blue-chip stock index closed lower by 0.12%.
EasyJet shares jumped 4.2% after competitor Ryanair raised its full-year profit forecast. Ryanair stock was up by 5.5% during afternoon trade following the promising trading update on the back of a strong holiday season, while British Airways parent IAG also added 4.8%.
NBS: FX reserves at 13.37 bln euros at end-2019, rise by 2.1 bln
National Bank of Serbia (NBS) FX reserves rose by 2.1 bln euros in 2019, totalling 13.37 bln euros at the end of December, according to preliminary figures released by the NBS. "Gross FX reserves stood at 13,378.5 mln euros at end-December, ensuring 174 pct coverage of money supply M1 and six months’ worth of the country’s imports of goods and services, which is twice the level prescribed by the standard on the adequate level of coverage of the imports of goods and services by FX reserves.
Beginning of distribution of gas through Turkish Stream to Serbia uncertain
It isn't easy to say when the consumers in Serbia will start getting gas through the Turkish Stream since there are still many great unknowns about the end of its construction in Bulgaria, the experts tell the Beta news agency on Friday. Serbia's officials have said earlier that the pipeline will be functional by the end of last year. In contrast, President Aleksandar Vucic has recently 'extended' the deadline for May or September 2020. Aleksandar Antic, Serbia's Energy Minister, said that the Bulgarian Prime Minister Bojko Borisov had promised his country would finish its 308 kilometres of the gas pipeline in May.
Turkish banks to lend Serbian government money to pay Turkish company
Nova Ekonomija magazine said in its latest issue that the Serbian government is set to take out a loan of more than 200 million Euro to pay for infrastructure projects by a Turkish company whose officials were suspected of corruption and breaking labor laws. The magazine said that the 219.2 million Euro loan will be taken from the Turkish banks Ziraat and Denizbank for infrastructure projects in the northern Vojvodina province and the Sandjak area in the west of the country which has a large Moslem population with historic ties to Turkey. Prime Minister Ana Brnabic’s cabinet adopted a draft law on December 30 to confirm the loan contract with the two banks. According to the contract, the Turkish Tasjapi company will build a highway between Sremska Raca and Kuzmin, a bridge across the Sava river and reconstruct the Novi Pazar-Tutin road.