S&P 500 closes flat, hovering near record high; European markets close higher amid Fed easing; Bank of England holds rates
The Dow Jones Industrial Average gave up a 100-point gain and the S&P 500 held steady just under its all-time high on Thursday as investors checked their optimism about renewed U.S.-China trade talks. The Dow finished the day down 52.29 points at 27,094.79 as gains in Microsoft and UnitedHealth weren’t enough to offset losses in Boeing and Walt Disney. The S&P 500 closed around flatline at 3,006.79 thanks to gains in health-care and materials stocks and weakness in industrials and energy. The tech-heavy Nasdaq Composite gained less than 0.1% to close at 8,182.88.
Software giant Microsoft, meanwhile, climbed 1.8% to an all-time high after announcing Wednesday evening that it authorized another $40 billion for share buybacks and will raise its quarterly dividend by 5 cents to 51 cents per share. The company is worth more than $1 trillion and is currently the most valuable public company in the United States.
European stocks closed higher Thursday, after the U.S. Federal Reserve cut interest rates as expected but signaled a higher threshold to further policy easings. The pan-European Stoxx 600 closed provisionally up 0.6%, with most sectors and major bourses in positive territory. The Bank of England (BOE) held interest rates steady on Thursday, as Brexit uncertainty continues to hang over the world’s fifth-largest economy.
Serbian GDP up 4.4% in July
Serbian economy grew 4.4% in July, Minister of Finance, Sinisa Mali said to local press. As he believes, continuation of such trend would result in an annual growth rate of 3% in 2019. Expected GDP growth for this year is at 3.5%, while figures from 6M 2019 showed momentum is slowing down, due to unfavorable macro trends in Germany and some other major external trade partners of Serbia, Mali also said.
Source: RTV, Ilirika
EIB ready to fund projects in Serbia's new investment cycle
The European Investment Bank (EIB) is ready to support and fund projects in Serbia's new investment cycle, estimated to be worth around 12 bln euros. The EIB is not afraid of large numbers, says Dubravka Negre, head of the bank's regional office for the Western Balkans. New projects and future loans from the bank could relate to Serbia's tourism sector, she told Tanjug. The EIB is ready to listen to the government as regards all projects and hold discussions with authorities about funding the development of the railway infrastructure, national and local roads, digitalisation in education and other fields, she said.
FINT: Serbia's renewable energy sources potential totals 50,000 GWh
Serbia has a very significant potential in terms of renewable energy sources, which is an excellent foundation for energy stability in the future, says MK Fintel Wind Executive Director Tiziano Giovannetti. "Serbia's overall renewable energy sources are approximately worth an annual 4.3 mln t of oil equivalent, which is 50,000 GWh at annual level," Giovannetti has told Tanjug. Electricity generation from wind power has been Europe's fastest-growing renewable energy source in recent years, and Serbia has higher-than-average resources in this regard when compared to other countries in continental Europe, he said.