Dow posts 4-day winning streak amid trade optimism; European stocks close mainly lower as investors eye Brexit battle and stimulus hopes
The Dow Jones Industrial Average posted its fourth straight gain on Monday amid more optimism around U.S.-China trade relations. However, losses in tech shares kept the index’s gains in check. The 30-stock Dow rose 38.05 points, or 0.2% to close at 26,835.51. The S&P 500, meanwhile, closed just below breakeven at 2,978.43 to end a three-day winning streak. The Nasdaq Composite slid 0.2% to 8,087.44. Small-cap stocks outperformed, as the Russell 2000 climbed 1.3% to 1,524.23 to post its third gain in four sessions.
AT&T shares rose 1.5% after Elliott Management revealed a $3.2 billion stake in the telecom giant. In a letter to shareholders, Elliott said AT&T can “improve its business and realize a historic increase in value.”
European stocks closed lower on average Monday as investors monitor ongoing political chaos in the U.K. and cautious hopes for policy stimulus from the world’s major economies after a series of weak data releases. The pan-European Stoxx 600 finished provisionally 0.29% below the flatline, auto stocks adding 2 % to lead gains while the food and beverage sector slid 1.7%.
Air France KLM shares fell 9.7% after the publication of the airline’s traffic figures for August, which came in weaker than expected.
Agreement on construction of Nis-Pristina highway to be signed on Thursday – Construction of section to Plocnik to begin in 2020
The Minister of Construction, Transport and Infrastructure of Serbia, Zorana Mihajlovic, has announced that the agreement on the construction of the Nis-Merdare-Pristina highway would be signed on September 12. We are signing an agreement on the construction of this highway, as well as an agreement on the financing in the amount of EUR 100 million and an agreement on an investment grant worth EUR 40.6 million, for the first section, Nis-Plocnik, the construction of which will begin next year – she emphasized.
China's Zijin Mining Co to build new plant in Majdanpek
China's Zijin Mining Co, which owns Serbia's mining and smelting complex in Bor, eastern Serbia, aims to build an all-new processing plant in nearby Majdanpek in line with leading-edge standards in technology and environmental protection, the company announced Monday as a Serbian delegation visited its headquarters in Shanghang, a city in China's Fujian province. The company also said it was planning to expand production and renovate the Jama and Cerovo mines in Majdapek and improve the technology at its smelting plants.
NIS to payout cash dividend on 16th September
NIS announced that it is about to payout earlier approved cash dividend don 16th September this year. The company will payout RSD 39.9 per share to shareholders, with dividend record date on 17th June 2019.
Source: Belex, Ilirika