Serbian IT exports to reach 2 bln euros in 3 years
Serbia's IT service exports reached around 1.15 bln euros in 2018 and will hit the 2 bln euro mark in just three years, Serbian Minister of Innovation and Technological Development Nenad Popovic said Thursday. In 2018, the Serbian IT industry surpassed the export performances of FIAT and the Smederevo steel mill - the country's previous top exporters - for the first time in history, Popovic said.
TGAS: Tehnogas reported drop in non-consolidated FY 2018 net profit and higher sales
Technical gases producer, Messer Tehnogas (TGAS) reported non-consolidated net profit for FY 2018 at RSD 1.8bn, down 11% y/y, due to appearance of write-off items (probably related to older receivables or asset revaluations) and slightly higher tax expenses. The company’ sales arrived at RSD 8.7bn, up 10% y/y, while operating profit was up at the same percentage, with profit margin remaining at high 24%. These results do not incorporate operations of recently acquired Slovenian Messer. Possible dividend payment is at RSD 500 per share gross, implying 4.5% gross yield on a current market price. Dividend day is related towards GA, which is probably to be scheduled for mid-June.
Source: Belex, Ilirika
February retail trade turnover up 13.4%
According to preliminary results released by the national statistical office on Friday, the Serbian retail trade turnover in February 2019 increased by 13.4 pct at current prices and by 10.8 pct at constant prices compared to the same period of 2018. "Comparing the first two months of 2019 with the same period of 2018, retail trade turnover increased by 10.3 pct at current prices, and by 8 pct at constant prices," the statistical office said in a statement.
Dow rises more than 200 points on trade optimism, EU indices ended in green
Stocks rose on Friday amid renewed optimism on the progress of trade talks between Washington and Beijing as Wall Street wrapped up a stellar quarter.
The Dow Jones Industrial Average closed 211.22 points higher at 25,928.68 as Boeing, UnitedHealth and Caterpillar outperformed. The S&P 500 advanced 0.7 percent to 2,834.40, led by the industrials and health care sectors. The Nasdaq Composite climbed 0.8 percent to 7,729.32.
CarMax was the best-performing stock in the S&P 500, rallying 9.5 percent on strong earnings. Sentiment was also lifted by Lyft, as the ride-sharing company surged more than 8 percent in its first day of trading.
European shares closed off session highs higher on Friday after British Prime Minister Theresa May lost another crucial Brexit vote in the U.K. Parliament.
The pan-European Stoxx 600 index closed provisionally 0.56 percent higher on the last trading session of the month. For the week, the index of European blue chip stocks finished 0.78 percent higher.
On the corporate front, H&M shares soared 9.56 percent after it reported a smaller than expected drop in first-quarter pretax profit.
In terms of data, German retail sales rose more more-than-expected in February, according to new figures. Meanwhile, the U.K. economy grew by an annual average of 1.4 percent in 2018, according to a final reading of official data, the weakest expansion since 2012.