INO:

Dow soars more than 400 points, Tesla surge leads Nasdaq to all-time high; Europe markets close higher amid global rebound; coronavirus fears linger

Stocks rallied on Tuesday, building on solid gains from the previous session as the market recovers from a steep sell-off that was sparked by worries over the coronavirus. The Dow Jones Industrial Average closed 407.82 points higher, or 1.4%, at 28,807.63. The S&P 500 gained 1.5% to end at 3,297.59 while the Nasdaq Composite advanced 2.1% to a record of 9,467.97. The tech-heavy benchmark became the first of the major indexes to come back completely from the coronavirus-related fears.
Tesla, meanwhile, powered the Nasdaq with a surge of more than 13% that lifted the stock above $900 for the first time. That rally follows Tesla’s best day in six years. Billionaire investor Ron Baron, a longtime Tesla bull, said Tuesday that Tesla could see revenues of $1 trillion in 10 years. Tesla, however, gave back a chunk of its gains in the final minutes of trading. At its high of the day, Tesla had surged more than 24%.
European markets closed higher on Tuesday as sentiment improved and investors brushed aside economic fears over the coronavirus outbreak. The pan-European Stoxx 600 closed provisionally up by 1.6%, with basic resource stocks leading gains with a 3.6% jump.
Carlsberg reported full-year sales broadly in line with expectations and forecast mid single-digit organic profit growth in 2020, sending the Danish brewer’s shares around 3% higher.
Energy giant BP posted better-than-expected full-year net profit, reporting a year-on-year fall of 21% on weak oil and gas prices. BP shares climbed 4%.
Source: CNBC

SERBIA:

Amendments to the Law on Capital Market adopted – Domestic securities more available to foreign investors

The National Assembly of Serbia has adopted amendments to the Law on Capital market, enabling an increase of the base and the structure of potential investors in domestic securities. Foreign investors and funds will now be able to invest in domestic securities and the Serbian capital market in a quick and efficient way. Serbian Finance Minister Sinisa Mali said during the discussion that the amendments led to the harmonization of the Law on Capital Market with the Law on Public Debt. He pointed out that, by increasing the availability and attractiveness of domestic securities to foreign investors, the country reduced the financing costs and secured a better diversification of investors in domestic securities.
Source: Ekapija

Komercijalna banka talks to be concluded soon

Serbian Finance Minister Sinisa Mali on Tuesday announced a contract on a sale of Komercijalna banka could be signed soon. When asked about the progress of talks and when the contract was expected to be signed, he said he expected the negotiations to be concluded within the shortest possible period of time to enable the signing of the contract. "If you're asking me when I expect that to happen - in the next two, three or four weeks, if everything is right," Mali said. He said a commission tasked with the talks was doing its job, but refused to elaborate.
Source: Tanjug

Serbia's public debt at 52 pct of GDP at end-2019

Serbia's public debt stood at 23.94 bln euros at the end of December 2019, the Serbian Ministry of Finance announced on its website. At 52 pct, the December debt-to-GDP ratio was down by 180 mln euros in nominal terms from 24.12 bln euros in the previous month. By comparison, the November debt-to-GDP ratio was 52.4 pct of GDP. At the end of 2018, the public debt totalled 23.01 bln euros, or 53.7 pct of GDP.
Izvor: Tanjug