ENHL: Energoprojekt reported two new contracts form Peru, worth EUR 9.3m
Energoprojekt (ENHL), reported two newly contacted jobs from Peru. The first one is worth EUR 3.1m and this is about reconstruction of local channel. The second one is related to irrigation system construction and this is worth EUR 6.2m. In both cases, Nsikogradnja daughter unit will act as a contracting company, together with local partners from consortium. Completion deadline is 300-360 days.
Source: Belex, Ilirika
Negotiations between Russia and Serbia on preferential trade to be completed soon, Putin says
Russian President Vladimir Putin expects the negotiations of the Eurasian Economic Union (EEU) with Serbia on preferential trade to be completed soon. We expect the negotiations on agreements on preferential trade with Singapore, Israel, Serbia and, in the future, India and Egypt, to be completed soon – Putin stated at a session of the Supreme Eurasian Economic Council, as reported by Tass.
National Assembly adopts Serbia's state budget for 2019
The Serbian National Assembly adopted on Friday the Budget Law for 2019, with 141 votes in favor, and none against or abstained. According to the Serbian government, the new budget envisages revenues of RSD 1,246.2 billion and expenditures of RSD 1,269.1 billion, so the deficit will be RSD 22.9 billion, which is 0.4 percent of the expected gross domestic product (GDP). The budget is projected on the basis that the GDP growth will be 3.5 percent next year, and that inflation will amount to 2.3 percent.
Sberbank to sell its Agrokor stake – Arab investors interested
The Russian Sberbank, a key shareholder in Agrokor, has received offers for the sale of its stake in the concern which is currently leaving the debt crisis, said Maxim Poletayev, the Sberbank CEO aide. Poletayev said that Sberbank had already started to get proposals to buy out the bank’s stake from different kinds of distressed funds spanning the United States and Canada to the UK. He told Reuters that Fabris Perusko was expected to be Agrokor’s CEO. Croatian media remind that, in October, a Croatian court approved a deal for the indebted Agrokor that includes a debt-for-equity swap and that Sberbank is soon to become Agrokor’s largest shareholder with a 39.2% stake.
Dow rebounds from 780-point plunge, ends day just slightly lower on report Fed may pause hikes, European markets close at 2-year low, Stoxx 600 slips 3.3 percent, European markets close higher to cap wild week, Fresenius SE shares tank 17%
Stocks dropped sharply on Friday, concluding what has been a wild week for Wall Street. A weaker-than-expected jobs report and China-U.S. trade tensions sent the Dow Jones Industrial Average lower by 558.72 points to 24,388.95 and erased its gains for the year. The S&P 500 pulled back 2.3 percent to 2,633.08 and also turned negative for the year. The Nasdaq Composite dropped 3.05 percent to close at 6,969.25. Shares of large-cap tech companies led the way lower. Facebook, Amazon, Netflix and Google-parent Alphabet all traded lower.
Apple's stock also fell 3.6 percent — erasing its gains for the year — after Morgan Stanley cut its price target on the tech giant's shares, citing weakening iPhone sales.
The U.S. economy added 155,000 jobs last month. Economists polled by Dow Jones expected a gain of 198,000 jobs. Wage growth also missed estimates. But investors were torn about the data as it could signal fewer rate hikes from the Federal Reserve down the road.
European stocks recovered some ground Friday, after slumping to a two-year low in the previous session but significant gains were capped by lack of thrust from Wall Street and Asia. The pan-European Stoxx 600 provisionally closed up over 0.7 percent, with all sectors and major bourses in positive territory.
Looking at individual stocks, Britain's Tesco surged towards the top of the European benchmark after Exane BNP Paribas raised its stock recommendation to "neutral" from "underperform." Shares of the London-listed stock were up around 4.1 percent on the news.
Meanwhile, Germany's Fresenius SE tumbled to the bottom of the index after the healthcare group slashed its medium-term guidance late Thursday. The company cited lower profit expectations at its dialysis arm FMC and clinics chain Helios, Reuters reported. Shares of the group tanked 17.7 percent.