Kostic repeats expression of interest in part of Agrokor – Investments in Slovenia and Montenegro more important than purchase of PKB
MK Group is interested in purchasing Agrokor's companies active in the fields in which we have years of experience, primarily agricultural production and processing, says Miodrag Kostic, president of MK Group. Concrete steps depend on the offer and the sale process itself. Our ambition is not to buy the entirety of Agrokor, but only those parts that will contribute to the strengthening of the competitiveness of our company in the European and the regional market – said the head of MK Group.
ENHL: Sheikh Mubarak bin Fahad Al-Thani, Ambassador of Qatar to Serbia – World Cup preparations opportunity for Serbian companies
Serbian construction companies might find their place in big infrastructural projects being carried out within the preparations for the 2022 World Cup in Qatar, Sheikh Mubarak bin Fahad Al-Thani, Ambassador of Qatar to Serbia, says in his interview for eKapija. Groups of leading foreign companies work on these huge projects – Al-Thani explains and adds that companies from Serbia should look for an opportunity to cooperate with international companies already active in the development of these projects.
Serbia to be regional maintenance hub for Airbus helicopters
Serbia's Moma Stanojlovic Air Force Institute will become a regional center for maintenance of Airbus helicopters, Defense Minister Aleksandar Vulin has said. Vulin spoke after a meeting with Cesar Sanchez-Lopez, vice president for Airbus South East Europe & Israel. "We are very satisfied with our cooperation. When it comes to the acquisition of H145m helicopters, everything is going according to plan, and by the end of the year we expect two helicopters - one for the Ministry of Defense and the other for the Ministry of Internal Affairs," Vulin said.
SBITOP gained 0.93 percent, reaching 817.01 points
The biggest gainers of the day were by far the stocks of Gorenje at 12.84 percent increase due to the news about receiveing 4 non-binding offers. The stock returns of Gorenje were folowed by the returns of Interevropa at 1.92 percent price incerase.
Gorenje, d.d. received 4 non-binding offers from potential Asian strategic partners
On 7th March 2018 Gorenje, d.d. received 4 non-binding offers from potential Asian strategic partners. All of them are active in household appliances industry.Gorenje, d.d. will review non-binding offers on 13th March 2018 and release the next update on the process by 15th March 2018. Taking into account the provisions of the signed confidentiality agreements with interested strategic partners, the company Gorenje, d.d. will not comment on potential speculations in the media regarding the names of the interested partners.
Intereuropa Group generated a sales turnover of EUR 150 million
The Intereuropa Group generated a sales turnover of EUR 150 million, which was 11 percent better than in 2016 and 5 percent above the plan. The EBITDA achieved at EUR 13.2 million remained on the level of 2016.The Group is able to effectively reduce the indebtedness: the net financial debt was reduced by EUR 6.4 million or 9%, to EUR 67.1 million at the end of December 2017.The Intereuropa Group recorded a negative operating result at EUR 1.6 million, which was on the same level as the preceding year. Such an operating result was attributed to the effects of fixed assets revaluation – in particular of real estates, which were made based on fair value appraisals of real estates in all members of the Intereuropa Group.The Parent Company Intereuropa d.d. recorded EUR 340 thousand of net profit, which was by EUR 3.8 million better than in the year before.
25 percent plus one share in Deželana Banka Slovenije, d.d. sold
SKUPINA PRVA, d.d. and Prva osebna zavarovalnica, d.d. acquired a 25 percent stake plus one share in the Deželana Banka Slovenije, d.d. where the SKUPINA PRVA, d.d. acquired a 9.9% ownership stake in Deželna banka Slovenije, while Prva osebna zavarovalnica, dd. acquired the difference.
Source: LJSE, Ilirika
Stocks close higher after Trump signs tariffs that exclude Mexico and Canada, Europe markets closed higher for the fourth straight session following ECB decision
Stocks closed higher on Thursday after President Donald Trump implemented steel and aluminum import tariffs that excluded Canada and Mexico, two key U.S. trade partners. The S&P 500 closed 0.45 percent higher at 2,738.97, with utilities and consumer staples as the best-performing sector. The Dow Jones industrial average ended 93.85 points higher at 24,895.21. The Nasdaq composite rose 0.4 percent to 7,427.95.
In corporate news, Cigna announced it plans to buy Express Scripts for $67 billion in a cash-and-stock deal. Cigna would find a new partner in Express Scripts, after antitrust regulators last year denied a Cigna and Anthem combination as anti-competitive. Express Scripts shares rose more than 8 percent on the news.
In economic news, weekly jobless claims increased by 21,000 to 231,000 last week, bouncing back from a 48-year low. Investors also looked ahead to the release of the Bureau of Labor Statistics' monthly jobs report. Economists polled by Reuters expect the economy to have added 200,000 jobs last month. Markets in Europe closed provisionally higher Thursday, as investors reacted to the latest decision from the European Central Bank (ECB). The pan-European Stoxx 600 ended provisionally 1.07 percent higher with only Basic Resources and Retail sectors moving lower.
The ECB maintains monetary policy in line with the expectations of the second session of the ECB. The Governing Council did not adopt new decisions on monetary policy this year. The key interest rate remains unchanged at zero percent, and there is no change in the bond purchase program. The economic expansion in the euro area is projected to remain robust, with growth rates staying above potential. Real GDP growth is projected to slow from 2.5% in 2017 to 1.7% in 2020.
Basic resources were the worst performers, not only due to a threat of higher tariffs on metals but also following data showing that China imported 16 percent less iron ore in February from the previous month. BHP Billiton fell 2.6 percent on the day.
Shares of Hugo Boss also fell 6.8 percent on its results day. The retailer said that it is cautious on its profit for 2018 as it invests in its stores and website.
Source: CNBC, Ilirka