JMBN: Six banks interested in Jubmes Banka
Six companies (banks), three domestic ones and three foreign ones, are interested in purchasing the state's stock in Jubmes Banka, Blic learns at the Government of Serbia. Finance Minister Sinisa Mali stated recently that the state would sell its 20.2% stake by the end of the year. As the newspaper reports, the sale of this bank, the biggest individual owner of which is the state, is nearly certain. One of the reasons is that these six companies are serious players with good experiences in the banking sector, and the other is that the state is presented with a wide range of choices.
Serbia remains on FATF list as high risk country for money laundering and corruption
Serbia is still among the black-listed countries that have failed to combat money laundering and terrorist financing – says the latest report by the International Independent Authority – Financial Action Task Force (FATF). The FATF, which is an intergovernmental organisation on the initiative of the G7 to develop policies to combat money laundering, released the report on 19th October, which states that t is said that eleven countries, including Serbia, remain on the list of high-risk states because they do not fully implement offered recommendations to prevent money laundering and the financing of terrorism.
Source: Serbia monitor
ENHL: Energoprojekt contracted job in Serbia worth RSD 423m
Energoprojekt (ENHL) reported RSD 423m worth contract on construction of Zrenjanin bypass route. The project will be executed by consortium of Energoprojekt Niskogradnja and local company Bauwesen. Completion deadline is 320 days.
Source: Belex, Ilirika
EBRD considers equity investment to support region's SME sector
The European Bank for Reconstruction and Development (EBRD) announced on Wednesday, October 24, 2018, that it was considering an equity investment of up to EUR 10 million in Invera Private Equity Fund to support the development of small and medium businesses in five southeast European countries. The project has passed concept review and has a target board date of November 28, the EBRD said in a press release.
Dow surges 400 points as tech jump leads recovery from Wednesday's sell-off, European stocks rebound to close higher, WPP tanks 14%
Stocks jumped on Thursday as Wall Street recovered from a tumble in the previous session that sent two of the major indexes into the red for 2018. The Dow Jones Industrial Average rose 401.13 points to 24,984.55 — snapping a three-day losing streak — as Microsoft outperformed. The S&P 500 gained 1.9 percent to close at 2,705.57 as consumer discretionary and tech both rose more than 3 percent. The Nasdaq Composite climbed 2.95 percent to 7,318.34 as Amazon rallied 7.1 percent ahead of the release of its earnings report. A 3.4 percent jump in Facebook and a 3.7 percent gain in Netflix also lifted the Nasdaq.
Thursday's bounce comes as several major companies posted strong quarterly results. Microsoft reported earnings and revenue for the previous quarter that easily topped analyst expectations. The Dow component rose 5.8 percent on the news.
Tesla, meanwhile, posted a surprise profit, sending its shares up by 9.1 percent. Twitter also surged 15.55 percent on better-than-expected results.
Not all quarterly reports were good, however. AMD shares tanked more than 15 percent after the company issued weak revenue guidance for the fourth quarter.
European stocks ended higher on average Thursday, as investors digested corporate earnings and reacted to the European Central Bank (ECB) decision to leave rates unchanged. The pan-European Stoxx 600 ended provisionally higher 0.51 percent after a dip on Thursday morning. Among the major bourses, France's CAC index was the top performer, up 1.60 percent.
Europe's autos stocks led the gains Thursday afternoon, jumping 3.15 percent amid earnings news. France's PSA Peugeot Citroen was a top sectoral performer after its quarterly earnings were well received by investors. Shares of the Paris-listed stock ended Thursday 6.95 percent higher.
The tire maker Continental was the sector's biggest gainer however, closing higher by 7.65 percent after announcing that its third quarter adjusted operating result would be a bit higher than previously forecast.
UBS also reported stronger-than-expected results Thursday morning on the back of higher loan volumes, as well as strong growth in equities and foreign exchange trading. Shares were 1.09 percent higher by the end of the session