KMBN: Tendering procedure for Komercijalna Banka in May or June 2019
Serbian Finance Minister Sinisa Mali said yesterday that Komercijalna Banka would get a strategic partner, as there was no reason for the state to be the bank's co-owner. He said on TV Prva that an agreement with the French company Lazard would be signed on Wednesday, February 6, 2019. The company will advise the Government of Serbia in the process of privatization of Komercijalna Banka, where the state has a 41.74% stake. Various options are possible, but it is certain that a strategic partner will be sought for Komercijalna Banka. The tendering procedure will start in May or June and we hope that the procedure will be completed by the end of the year. There is no reason for the state to be the co-owner of this bank – Mali said.
Fintel Energija announces construction of largest wind farm in Serbia and Europe
The Board of Directors of Fintel Energija A.D. has reached the decision on the initiation of ambitious projects of the construction of new wind farms, including the project of the development of the biggest wind farm in Europe. The CEO of Fintel Energija, Tiziano Giovannetti, announced that, with these projects, Serbia would be one of the fastest countries when it comes to the transition from fossil fuels to clean energy. The Board of Directors of Fintel Energija A.D. met for the first time after the company's successful listing at the Belgrade Stock Exchange in November 2018. Their shares were included in the BELEX Prime Listing, the best segment of the local capital market. This was preceded by an IPO.
Agreement on Novi Sad-Ruma high-speed traffic route soon to be signed
The agreement on the construction of the Novi Sad-Ruma high-speed traffic route, one of the biggest infrastructural projects in Serbia, should soon be signed, the president of the Provincial Government, Igor Mirovic, said at the opening of the Vojvodina 2019 conference, which aims to define various aspects of the development of the Autonomous Province of Vojvodina. It has been announced for four years now, and the construction has been delayed several times. It should connect three municipalities with a total of 400,000 residents and over 30,000 companies. The traffic route will cost EUR 400 million, be 37 kilometers long and feature a 3.5-km tunnel through Fruska Gora.
AERO: Belgrade Airport to proceed with dividend payment in March, at the earliest
Cash dividend payment for Belgrade Airport (AERO) shareholders, will be possible only after adoption of revised financial statements for 2018, the sources from Serbian government told to Politika newspapers. This will be possible in March at the earliest, the same source says. Vinic has already paid one-off concession fee and this is still to be paid out as a cash dividend. Record date is probably 31st December 2018.
Source: Beta, Ilirika
Dow climbs more than 150 points ahead of Trump’s State of the Union address, Europe rallies to hit nine-week high on earnings, FTSE rises 2 percent
Stocks rose on Tuesday as investors eagerly awaited President Donald Trump’s latest State of the Union address while the corporate earnings season rolled on. The Dow Jones Industrial Average closed 172.15 points higher at 25,411.52, led by Apple and Intel. The Nasdaq Composite gained 0.7 percent to close at 7,402.08. The S&P 500 climbed 0.47 percent to 2,737.70 on the back of gains from the tech, communications services and consumer discretionary sectors.
Alphabet, Seagate Technology and Estee Lauder are among the companies that have reported better-than-expected earnings. Alphabet shares closed 0.9 percent higher. Seagate shares dipped 0.9 percent, however.
Estee Lauder, meanwhile, jumped 11.6 percent on better-than-expected results. The company also raised its 2019 earnings guidance. Archer-Daniels Midland fell 5.9 percent after reporting weaker-than-expected earnings and revenue.
European stocks surged to a nine-week high on Tuesday, as market participants monitored a flurry of corporate earnings results.
The pan-European Stoxx 600 closed provisionally 1.3 percent higher, with all sectors and major bourses in positive territory. The index hit its highest level since Dec. 3. Britain’s FTSE 100 outperformed most of its peers, rising 2 percent as sterling hit a 2-week low against the dollar. The currency’s steep dive came as the U.S. currency strengthened and Brexit fears edged back into investor consciousness.
Europe’s oil and gas sector was also among the best performers, up 1.7 percent on the back of strong results from BP. The British oil major said 2018 profit jumped more than 65 percent when compared to the same period in 2017, following a sharp rise in oil and gas production and the acquisition of BHP’s U.S. shale assets. Shares rose over 5 percent on the news.
Meanwhile, Apple supplier AMS tumbled to the bottom of the index. The Austrian group said Tuesday it expects revenue to fall over the coming weeks amid continued weak smartphone demand. Shares of the company fell almost 7 percent.