Daily Report 18.09.2019
Објавено: 18. 09. 2019


Stocks rise slightly ahead of the Fed’s decision on interest rates; European stocks close slightly lower as oil plummets; Fed meeting in focus

Stocks rose slightly on Tuesday, but gains were capped as the Federal Reserve kicked off a two-day monetary policy meeting. The Dow Jones Industrial Average rose 33.98 points, or 0.1% to 27,110.80. The S&P 500 climbed 0.3% to close at 3,005.69. The Nasdaq Composite advanced 0.4% to end the day at 8,186.02. The meeting is scheduled to end Wednesday, when the central bank is expected to announce its latest decision on monetary policy. The Fed is largely expected to cut rates by 25 basis points. That would be the central bank’s second rate cut of 2019.
The pan-European Stoxx 600 closed provisionally almost 0.1% lower, paring losses after dropping as much as 0.5% earlier in the day. Bank shares were the worst performers, down 1.9%, while food and beverages stocks led gains with a 1% rise.
Oil prices reversed course after Monday’s massive gains after a Reuters report said Saudi Arabia’s oil output would be restored to normal levels faster than initially expected.
In corporate news, German lighting group Osram Licht has advised shareholders to accept a 4.3 billion euro ($4.8 billion) bid for the company from Austrian chipmaker AMS.
Source: CNBC


NIS stocks rise on BELEX following dividend payout

Both Belgrade Stock Exchange (BELEX) indices recovered Tuesday as Naftna industrija Srbije (NIS) stocks were the most in-demand - unsurprisingly so considering the hefty dividend paid out by the petroleum company to its shareholders. The overall turnover was slightly below 75 mln dinars (637.4 thousand euros). The BELEX15 index rose by a third of a percent to 759.87 points while BELEXline climbed 0.1 pct to 1,619.87 points. After paying out a 6.5 bln dinar (55.3 mln euro) dividend - or 25 pct of its 2018 net profit - NIS saw the highest turnover - 7.7 mln dinars - and was the top gainer of the day, rising 1.3 pct to 680 dinars.
Source: Tanjug

China's Huawei eyes development of data centre in Serbia

Chinese telecommunications equipment and services company Huawei is interested in supporting Serbia in the development of a data centre in Kragujevac, Serbia's e-government office said. Huawei may participate in the development of the cloud infrastructure of the data centre and in the establishment of a state-owned artificial intelligence platform based on high-performance computing (HPC) solutions, Serbia's Office for Information Technologies and e-government said in a statement on Monday.
Source: SeeNews

Countercyclical buffer rate for the Republic of Serbia kept unchanged

At its meeting of 12 September 2019, the NBS Executive Board decided to keep the countercyclical capital buffer (CCyB) rate for the Republic of Serbia at 0%. As part of its responsibility to set measures and activities aimed at maintaining and strengthening financial stability, and based on the Decision on Capital Adequacy of Banks (RS Official Gazette, Nos 103/2016 and 103/2018), the NBS calculates on a quarterly basis the reference guide based on which it sets the CCyB rate for the Republic of Serbia. The reference guide is calculated based on the deviation of the credit-to-GDP ratio from its long-term trend. June 2019 data show that the share of total loans in GDP equalled 75.3%, while the estimated credit-to-GDP gap was -6.7 percentage points.
Source: NBS