NBS: Annual inflation in February at 2.4%
According to the data of the Serbian Statistical Office, consumer price growth equalled 0.7% in February 2019. Monthly inflation was determined by seasonally higher prices of fresh vegetables and fruit, and the cigarette price adjustment. The major downward pressure came from the seasonally lower prices of fresh meat, clothes and footwear. Consistent with NBS expectations, y-o-y inflation remained stable in February – at 2.4%.
Serbia's January exports up 3%, imports up 11.5%
The volume of Serbia's external trade in January 2019 was up 7.8 pct y-o-y to 2.84 bln euros as exports were up 3 pct and imports rose 11.5 pct. Exports totalled 1.18 bln euros while imports stood at 1.65 bln, making the deficit 466.7 mln euros, which is a 40.9 pct increase compared to January 2018. The January import to export ratio was at 71.8 pct, down from 77.7 pct last year, the national statistical office said in a statement. According to seasonally adjusted data, January exports were up 5.3 pct m-o-m while imports rose 9.6 pct m-o-m.
FITO: Fitofarmacija reported flat FY 2018 net profit
Galenika Fitofarmacija (FITO), agro-chem company, reported RSD 746m in its FY 2018 net profit, which is basically flat y/y (down 1.1%). The company boosted sales by 4% y/y, due to slightly higher domestic placements and improved export. It operating profit was down 7%, due to higher cost of materials and lowered end products prices. The result is more-less expected given the seasonal character of the company’s operations (1H numbers already indicated FY level).
Izvor: FITO, Ilirika
Europe stocks close mixed ahead of crucial Brexit vote, sterling slips against the dollar
The Dow Jones Industrial Average fell on Tuesday as shares of Boeing posted another sharp decline amid worries over the safety of one of its most popular airplanes. The 30-stock index closed 96.22 points lower at 25,554.66, with Boeing accounting for about a 150-point drag. (In other words, the Dow would have been higher without Boeing’s loss.) Boeing shares fell more than 6 percent, eclipsing the 5.3 percent decline from Monday’s session and notching their biggest two-day loss since June 2009. Boeing fell after several countries, including China, the European Union and Indonesia, grounded all flights involving the 737 MAX model.
The broader stock market rose, however, after the release of key inflation data. The S&P 500 closed 0.3 percent higher at 2,791.52, led by gains in the utilities and health care sectors. The Nasdaq Composite advanced 0.44 percent to 7,591.03.
The U.S. consumer price index rose 0.2 percent in February, matching expectations. The so-called core CPI, which strips out food and energy, fell short of estimates by gaining just 0.1 percent.
European markets closed mixed Tuesday ahead of a crucial vote in the U.K. Parliament on the country’s Brexit withdrawal agreement. The pan-European Stoxx 600 closed provisionally just below the flatline, with sectors pointing in different directions. Investor attention was firmly focused on the Brexit deal in the U.K., with British lawmakers set to vote on whether to accept or reject Prime Minister Theresa May’s deal ahead of the scheduled March 29 departure.
French engineering firm Spie surged to the top of the European benchmark, up over 8 percent, after reporting strong full-year results. Swiss pharmaceutical firm Galenica also rose, up more than 6 percent, on the back of a 24 percent increase in net profit for 2018. At the other end of the scale, Telecom Italia shares fell 5.75 percent after media reports revealed on Monday that investors were at loggerheads over the future of the struggling firm.