Nasdaq Composite jumps for a sixth day, longest winning streak this year; European markets slip 0.7% amid concerns of a second wave of the coronavirus; BELEX15 up 0.91% as NIS keeps advancing; Serbia issued 2bn in Eurobonds with 3.12% coupon yield
Stocks recovered most of their earlier losses on Monday as shares of major technology companies advanced to start the week. The Nasdaq Composite traded 1.1% higher and was headed for its sixth straight positive session, its longest winning streak since an 11-day run back in December. Earlier in the day, the tech-heavy average fell 0.8%. For the year, the Nasdaq was up about 3% and traded about 6% below a record set in February.
The S&P 500 was up 0.3% after falling as much as 0.9% to start the session. The Dow Jones Industrial Average traded about 20 points lower after dropping more than 200 points. Facebook rose 0.5% while Amazon, Apple, Netflix and Alphabet all traded more than 1% higher. Microsoft advanced 1% and Intel climbed 1.6%.
European stocks closed in negative territory on Monday as the lifting of lockdowns continued throughout Europe despite fears of a second wave of coronavirus cases. The pan-European Stoxx 600 ended the day provisionally 0.7% lower, reversing earlier gains. Basic resources dropped 2.5% to lead losses, with most sectors and major bourses ending in the red.
Serbian BELEX15 was up 0.91% as NIS keeps advancing. The stock was up 4.5%. However, the most active was Komercijana Banka as it generated RSD 31.4m in volume, which is most of total market daily turnover we saw yesterday.
Serbia yesterday issued EUR 2bn worth Eurobonds, with coupon rate of 3.12% yield and 7 years maturity, NBS reported. The money will be used for supporting companies impacted by corona crisis, the same report says.
Source: CNBC, Ilirika