Daily Report 02.07.2020
Објавено: 02. 07. 2020

S&P 500 rises to start the new quarter, tech leads Nasdaq Composite to record close; European markets close slightly higher after positive coronavirus vaccine news; BELEX15 up 0.2% as NIS added 1.75% after GA approved RSD 27.1 per share as a cash dividend; Retail trade turnover recovers in May
The S&P 500 and Nasdaq Composite started the new quarter with solid gains on Wednesday, with market sentiment getting a lift from positive coronavirus vaccine news and strong U.S. economic data. The S&P 500 closed 0.5% higher at 3,115.86. The tech-heavy Nasdaq Composite posted a record closing high, rising 0.95% to 10,154.63. The Nasdaq-100 index — which is made up of the composite’s 100-largest nonfinancial stocks —jumped more than 1% to an all-time high and closed at 10,279.25. The Dow Jones Industrial Average lagged, falling 77.91 points, or 0.3%, to 25,734.97.
A study of a coronavirus vaccine candidate being developed by Pfizer and BioNTech showed the drug created neutralizing antibodies. The results were released online, but have not been reviewed by a medical journal yet. Pfizer shares jumped 3.2% on the news and BioNTech’s U.S.-listed shares fell 3.9%, erasing earlier gains into the close.
Shares of Amazon and Netflix — companies that benefit from people staying at home — led the way higher, rising 4.4% and 6.7%, respectively. FedEx was the best-performing stock in the S&P 500, rallying 11.7% on the back of stronger-than-forecast earnings.
DP and Moody’s Analytics said private payrolls jumped by 2.37 million in June. Payrolls for May were also revised to a gain of more than 3 million from a loss of 2.76 million. 
Meanwhile, The Institute for Supply Management said U.S. manufacturing activity grew to its highest level since April 2019, recovering from a sharp contraction in May.


European stocks eked out minor gains on Wednesday, following positive news about a U.S. coronavirus vaccine trial.
The pan-European Stoxx 600 closed up by about 0.2%, however gains in the broader market were capped with the German blue-chip DAX index slipping 0.5%.
Germany’s manufacturing contraction eased in June, with the final IHS Markit PMI on Wednesday coming in at 45.2, exceeding a flash estimate of 44.6 and up from 36.6 in May. Any reading below 50 signals a contraction. Manufacturing comprises around one-fifth of Europe’s largest economy. 
Figures from Germany’s Federal Labour Office showed the country’s jobless total rising by 69,000 in June, slowing from the 237,000 recorded in May.


Serbian BELEX15 was up 0.2%, as NIS gained 1.75%. The most active name was Metalac, with RSD 3.8m in volume. NIS followed with RSD 1.3m traded. The company’s GA approved RSD 27 per share, as a cash dividend, as it was expected. This bears 4.4% gross yield.
From the macro side, according to the latest SORS report, real retail trade turnover made a complete recovery, having risen by 4.7% y-o-y in May and by 2.7% y-o-y in the period January–May 2020.
Source: CNBC, Ilirika