NIIS: Serbian Oil Industry searching for oil at new locations – Zabalj and Zrenjanin
The Serbian Oil Industry (NIIS) is set to start exploring for possible oil and natural gas reserves in Vojvodina around the towns of Zrenjanin and Zabalj, a NIS official told reporters. Dusan Brstina of the NIS science sector said seismic exploration would cover an area of 720 square kilometres. NIS experts will be exploring around the towns of Zrenjanin, Zabalj, Vrbas, Novi Sad, Backi Petrovac, Temerin and Titel, he said.
NBS: FX reserves in April at EUR 10.4bn
NBS FX reserves stood at EUR 10.4bn at end-April, up by EUR 194.4m from end-March, ensuring the coverage of 189% of money supply (M1) or more than five months’ worth of the country’s imports of goods and services (almost twice the level prescribed by the standard on the adequate level of coverage of the imports of goods and services by FX reserves). It is important to note that FX reserves rose in an environment of the government’s early debt repayment to London Club creditors (outflow of EUR 130.9 mn) and net debt repayment in respect of FX securities issued in the domestic financial market (outflow of EUR 24.4 mn). The main factor contributing to the increase was the inflow from NBS interventions in the domestic FX market (purchase of EUR 215.0 mn).
SORS: Serbia's annual inflation slows to 1.1% in April
Serbia's average annual consumer price inflation slowed to 1.1% in April from 1.4% in March, the national statistical office said on Friday. On a monthly comparison basis, Serbia's consumer price index (CPI) rose by 0.4% in April, after increasing by 0.1% in March, the statistical office said in a monthly inflation report. Prices of clothing and footwear rose 2.1% month-on-month in April, while food and non-alcoholic beverages went up 0.7%. Prices of transport added 0.6%, of communications 0.3%, and furniture 0.2%. Prices in the sectors of alcoholic beverages and tobacco, and recreation and culture fell by 0.1% each in April. The country's annual consumer price inflation quickened to 3.0% in 2017 from 1.2% in 2016.
Source: SORS, SeeNews
SBITOP up addition 0.77% on Friday
After sold boost form Thursday, initiated with jump at Gorenje, SBITOP was up additional 0.77% on Friday, led by gains at Telekom Slovenija (+3.32%) and SavaRe (+2.29%). The most trade name was Gorenej with EUR 1.8m in volume, while daily looser was Mercator since it was down 10%.
Source: LJSE, Ilirika
Dow posts 7-day winning streak and biggest weekly gain since March, Europe shares close higher to post longest weekly winning streak in 3 years
The Dow Jones industrial average rose on Friday as Wall Street booked a week of solid gains following a strong rally in energy stocks. The Dow also posted a seven-day winning streak. The 30-stock, was up 0.37%. Meanwhile, the S&P 500 gained 0.2 percent to close at 2,727.72, while Nasdaq was nearly flat
For the week, the the Dow rose 2.3 percent — its biggest weekly gain since March — while the S&P 500 and Nasdaq climbed 2.4 percent and 2.7 percent.
Energy stocks led the way for the major indexes this week, climbing 3.8 percent. The sector received a boost from surging oil prices, which jumped after President Donald Trump pulled the United States out of the Iran nuclear deal.
In corporate news, chipmaker Nvidia reported better-than-expected earnings and revenue, while giving upbeat guidance. The stock fell 2.2 percent, however.
Verizon shares jumped more than 3 percent after analysts at J.P. Morgan upgraded the telecom giant, noting that its heft dividend and 5G network plans will be a boost.
European markets finished the week higher on average to secure the longest weekly winning streak in three years. The pan-European Stoxx 600 ended Friday 0.38 percent higher with the different sectors moving in opposite directions.
Basic resources led the gains, up by 1.7 percent, on earnings. The world's largest steelmaker ArcelorMittal jumped 2.3 percent after beating first-quarter expectations.
Source: CNBC, Ilirika