Fiat biggest exporter in first two months of 2018
Fiat Chrysler Automobiles (FCA) realized the biggest export from Serbia in the first two months of the current year, with EUR 140.5 million, the Ministry of Finance announced. HBIS group (Zelezara Smederevo), which realized exports of EUR 132.8 million, and Tigar Pirot, with exports worth EUR 64 million, follow. The value of the export of the 15 biggest exporters from Serbia in the first two months of 2018 amounted to EUR 707.4 million.
Memorandum on reconstruction of Belgrade-Zagreb railway signed – Works on Serbian territory worth around EUR 250 million
Serbian Minister of Construction, Transport and Infrastructure Zorana Mihajlovic and Croatian Minister of Maritime Affairs, Transport and Infrastructure Oleg Butkovic signed the Memorandum on cooperation on upgrading railway transport, which envisions a joint reconstruction of the Belgrade-Zagreb railway, on March 9, 2018. Around EUR 250 million will be needed for the reconstruction of the railway on the territory of Serbia, whereas the Croatian section will require a slightly higher amount. The Serbian Railways Infrastructure previously told Tanjug that the Belgrade-Zagreb railway through Serbia was double-tracked, electrified and designed for the speed of 120 km/h.
NBS: Annual inflation in February at 1.5%
According to the data of the Serbian Statistical Office, monthly inflation measured 0.3% in February. Movements in consumer prices in February were driven by the seasonally expected increase in fruit and vegetable prices, a decline in the prices of clothes and footwear and fresh meat, and higher prices of cigarettes and petroleum products. Annual inflation continued down, which is consistent with NBS expectations. It measured 1.5% in February. Weak inflationary pressures are also signalled by core inflation (the consumer price index excluding food, energy, alcohol and cigarettes), which remained low and stable, measuring 1.3% in February. Under the NBS central projection, in the months to come, y-o-y inflation will remain low on account of the base effect.
SBITOP remained stable at 818.1pts
Slovenian blue-chip index SBITOP remained stable at 818.1pts on Monday. After the opening the index was down to below 814pts, but it recovered to starting point by the end of the trading session. Top gainer was an insurer company SavaRe, with 1.17% jump, while major looser was Intereuropa, since it slumped 8.96%.
Dow closes 157 points lower amid lingering trade-war worries, Europe ekes out minor gains by the close, as utilities outperform fellow sectors
The Dow Jones industrial average fell on Monday as investors worried a trade war could develop after President Donald Trump implemented tariffs on steel and aluminum imports. The 30-stock index declined 157.13pts, or 0.62%, with Boeing, Caterpillar and United Technologies all falling at least 2 percent. The S&P 500 slipped 0.1 percent to 2,783.02, with industrials dropping 1.2 percent. The Nasdaq composite climbed 0.4 percent.
In corporate news, David Solomon will take over as president and CEO at Goldman Sachs after Harvey Schwartz, his sole competitor for the CEO position, retires next month. Goldman shares rose as much as 1.7 percent before closing 1 percent higher.
Analysts at Jefferies said in a note Monday that Steven Spielberg's "Ready Player One" movie could be a catalyst for both Nvidia and Advanced Micro Devices. In a note to clients, they said: "We believe that the movie will drive sales of VR headsets that require high-performance GPUs from NVDA and AMD."
European equities finished mostly higher Monday as markets in the region tried to shake off concerns surrounding tariffs and focus on the positive trading seen in individual stocks. The pan-European STOXX 600 closed up 0.25 percent provisionally, off its session highs, while the majority of the region's sectors ended in positive territory.
In individual stocks news, shares of Aryzta slipped 2.3 percent after the company reported widening losses in the six months to January. Deutsche Bank eked out gains by the close after revealing the price range for an initial public offering of its asset management arm, which is valued at up to 7.2 billion euros ($8.86 billion), according to Reuters.
Inmarsat sank 5.3 percent after CFRA Research cut its price target on the stock. The news added pressure to telecoms, which closed lower as a sector. This comes after the company reported earnings last week.
Source: CNBC, Ilirka