NIIS: NIS and MOL continue cooperation with Jadranski Naftovod – Agreements worth around EUR 67 million signed
Jadranski Naftovod (JANAF) announced on Monday, February 5, 2018, that its new contracts with NIS (NIS) and the Hungarian MOL group were worth HRK 500 million (around EUR 67 million). At the beginning of the business year 2018, JANAF continues intensive business activities in the international market and contracts new jobs with foreign partners – Naftna Industrija Srbije, owned by Gazpromneft, and MOL Group – the press release says. The head of the management of JANAF, Dragan Kovacevic, signed an agreement on business cooperation for the transport of oil in 2018 with NIS.
Gazprom to build Turkish Stream in EU territory in line with EC regulations
The Turkish Stream pipeline will be built on the EU territory strictly in line with the European Commission regulations, Deputy Chairman of the Managing Board of Gazprom, Alexander Medvedev, said on Thursday, February 8, 2018. At his meeting with investors in the company, Medvedev said that the second branch of the land section of the pipeline will be done by gas transport operators of the European states.
EPS to prepare reconstruction of Vlasina Hydro Power Plants – Life cycle to extend by 30 years, system power higher by 8%
The public enterprise Elektroprivreda Srbije (EPS) recently submitted a request for the deliberation on the need for an environmental impact estimate for the project of reconstruction of production generators and the accompanying equipment in the Vlasina Hydro Power Plants. As the company told eKapija, the project envisages the revitalization of all ten generators in the system of the Vlasina Hydro Power Plants in four locations (four generators at HPP Vrla 1, two each at HPP Vrla 2, HPP Vrla 3 and HPP Vrla 4). The entire project is in the phase of the preparation of investment-technical documentation, so a detailed project realization plan has not yet been defined.
SBITOP not immune to global asset repricing
SBITOP has repricing quite strongly on the Friday trading day (-1.71%) and during the whole week the index lost 2.76 percent. The stocks that gained in value were the stocks of Gorenje, which gained 1.18 percent during last week and closed last weeks trading at the price of 5.16 EUR per share. Majority of other stocks declined for about 2 – 3 percent during the last week sale-off.
SURS: External trade in 2017 the largest in recent years
Slovenia’s exports in 2017 amounted to EUR 28.2 billion (a 13.1% increase over 2016) and imports to EUR 27.5 billion (a 14.2% increase over 2016). In December 2017 both exports and imports increased compared to December 2016, the former by 9.2% (amounting to EUR 2.2 billion) and the latter by 10.1% (amounting to EUR 2.2 billion). The values of exports and imports were also higher than the average value of monthly exports and imports in 2016: exports by 5.8% and imports by 10.4%. Compared to other months in 2017, in absolute terms December's exports and imports are eighth.
Dow bounces more than 300 points Friday, but still posts worst week in 2 years, European stocks close lower amid global market turmoil
Last week, the correction on world markets continued. In the wake of the new valuations last week all the markets were in the red and almost all the markets have negative YTD records calculated in EUR terms. Drops were between 4 and 5 percent in US markets, and we witnessed around three percent corrections in European markets
Wall Street closed sharply higher on Friday as a consecutive day of frenzied trading action saw stocks stage a late rally to bounce back from triple digital losses amid a strong bout of corporate earnings. The Dow Jones Industrial Average closed higher at 24,190.97. The S&P 500 closed 1.49% higher, while the Nasdaq Composite closed at 6874.49, up 1.44%.
Leading the late-stage rally, tech closed 3% higher as investors cheered earnings from Nvidia after a report Thursday showed a strong beat on both the top and bottom lines, leading to a more than 7% gain for the day.
E-commerce giant Amazon is gearing up to launch a delivery service for businesses, pitting Jeff Bezos' logistical prowess against carriers like FedEx and UPS, the Wall Street Journal reported early in the day. Shares of UPS and FedEx both closed down Friday, down 2.6 percent and 1.7 percent respectively, Amazon also fell, down 0.8 percent.
Crude prices fell for a sixth day on Friday, posting their worst weekly decline in two years. U.S. West Texas Intermediate (WTI) crude settled at $59.20, down 3.2 percent.
European stocks closed lower Friday, as investors monitored global concerns about soaring volatility and rising borrowing costs. The pan-European STOXX 600 ended down by 1.45 percent, with all sectors and major bourses in negative territory.
Shares of L'Oreal ended marginally higher after the cosmetics giant saw sales rise by 5.5 percent in the fourth quarter on a like-for-like basis, topping expectations. Its CEO added the group was "confident" it would outperform the market and produce significant growth in 2018.
From the macro side, as reported by the Federal Statistical Office (Destatis), turnover in the main construction industry in Germany, for November 2017 was up 8.5% compared with the corresponding month of the previous year. At the end of November 2017 the number of persons employed by main construction industry entrepreneurs was up 2.3% compared to the level a year earlier.
Source: CNBC, Ilirika