INO:

Dow rises more than 100 points in late comeback, erases a 244-point drop; European markets close lower as coronavirus death toll rises

Stocks closed higher on Thursday after a sharp comeback late in the session erased earlier losses stemming from concerns around the coronavirus. The Dow Jones Industrial Average gained 124 points, or 0.4%. At its low of the day, the Dow was down 244 points. The S&P 500 ended the day up 0.3%. The Nasdaq Composite also gained 0.3%.
Microsoft led the Dow higher with a 2.8% gain after the tech giant reported better-than-expected quarterly results. That rise pushed the S&P 500 into record territory, advancing 0.9%.
Facebook reported quarterly results that showed a sharp rise in expenses and narrowing margins. Facebook shares fell more than 6%. Tesla enjoyed a second consecutive quarterly profit on record vehicle deliveries and vowed to produce over 500,000 units this year, sending the stock surging by 10.3%.
European markets closed lower on Thursday, weighed on by a rising coronavirus death toll and reacting to the U.S. Federal Reserve’s decision to keep interest rates on hold. The pan-European Stoxx 600 provisionally dropped 1% by the closing bell, with oil and gas stocks falling 2.6% to lead losses as most sectors and all major bourses slid into the red.
Deutsche Bank posted a full-year net loss of 5.3 billion euros ($5.8 billion) before the bell on Thursday, amid a huge transformation project. Shares of Germany’s largest lender climbed 4.2% on signs of restructuring progress.
Oil titan Royal Dutch Shell reported a sharp fall in full-year net profit, citing challenging macroeconomic conditions and lower oil and gas prices. The stock fell 4% by the end of the session.
Source: CNBC

Krka posted EUR 242m in FY 2019 net profit, up 39% y/y

The Management Board of Krka, d. d. held a press conference yesterday and presented the 2019 unaudited performance estimate of the Krka Group and the controlling company Krka discussed by the company Supervisory Board at their meeting yesterday. According to President of the Management Board Jože Colarič, the Krka Group generated €1,489.1 million by products and services sales, or 12% more than in 2018. Based on unaudited financial statement estimates, net profit of the Krka Group is approximated at €242.1 million, up 39% compared to 2018. Publication of the 2019 unaudited financial statements of the Krka Group and Krka is scheduled for Thursday, 19 March 2020.
Izvor: KRKA

SERBIA:

EC: Serbia drives Western Balkan economic growth

A strong rise of Serbian GDP drove a growth of Western Balkan economies in Q3 2019, which slowed down in 2018, according to the latest European Commission report. "Serbia, the biggest economy in the region, recorded the largest acceleration of annual GDP growth, to 4.8 pct from 2.9 pct in the previous quarter, mainly on the back of a strong increase in investment while private and public consumption continued supporting growth," the commission said in a report on economic trends in EU candidate countries. The European Commission retained last autumn's 3.8 pct and 3.7 pct growth projections for Serbia for 2020 and 2021, respectively.
Source: Tanjug

Dinar-denominated bonds to be put up for sale Feb 18

Serbian Finance Minister Sinisa Mali on Thursday announced dinar-denominated 12-year government bonds would be put up for sale on February 18. In an appearance on Happy TV, Mali also said wage and pension increases would be discussed in September. Serbia is stable, successful and serious again, Mali said in a comment on Wednesday's 150 mln euro sale of a euro-denominated 20-year government bond with a 3 pct yield rate. He went on to note the objective was to show that investors had confidence in the national currency as well, the Finance Ministry said in a statement.
Source: Tanjug