KMBN: Public call for statements of interest in purchasing Komercijalna Banka opens
The Ministry of Finance of the Republic of Serbia has opened a public call for the collection of statements of interest in participating in the sale of shares of Komercijalna Banka a.d. Beograd. As said in the text, the ministry invites all interested local and foreign legal entities that meet the requirements. The main criteria is that the potential purchaser has been active in banking in the past three years and that the value of the total assets pertaining to the banking activities exceeded EUR 1 billion at the end of 2018. The deadline for the submission of statements of interest is June 21, 2019.
Serbia's GDP 2.5% up y-o-y in real terms in Q1 2019
Serbia's GDP saw a 2.5% y/y growth in real terms in Q1 2019, the national statistical office RZS said Friday. According to seasonally adjusted GDP data, gross domestic product increased by 0.3 pct in the first quarter of 2019, compared to the previous quarter. A real growth in the gross value added was recorded in the section of construction - 12.3 pct, the section of wholesale and retail trade; repair of motor vehicles and motorcycles; transportation and storage and accommodation and food service activities - 5.8 pct and the section of information and communication - 4.9 pct.
SORS, NBS: Industrial output in April down 0.8% y/y
Industrial production in April was 0.8% lower y-o-y, SORS reported. Manufacturing rose 1.8% s-a in April relative to March, while in y-o-y terms it dipped 0.5%. Within manufacturing, more than one half of the branches (14 of the 24) recorded production growth in April compared to the same month a year earlier.
Dow drops more than 350 points after Trump threatens new tariffs on Mexico, posts 6-week slide; European markets close lower after Trump stokes recession fears; Stoxx 600 hits 3-month low
Stocks fell on Friday as investors feared President Donald Trump’s surprise threat of tariffs on all Mexico imports, amid a worsening trade war with China, could risk sending the U.S. economy into a recession. The Dow Jones Industrial Average closed 354.84 points lower at 24,815.04, while the S&P 500 slid 1.3% to 2,752.06. The Nasdaq Composite dropped 1.5% 7,453.15. The S&P 500 ended the month down 6.6% as volatility spiked after trade talks fell apart with China and rhetoric on both sides worsened in May.
Shares of GM dropped 4.25% on Friday. Ford lost 2.3%. Both have significant production in Mexico that could be subject to tariffs. Shares of railroads Kansas City Southern and Union Pacific also fell 4.5% and 2%, respectively. Fiat Chrysler closed 5.8% lower. Corona and Modelo beer maker Constellation Brands slid 5.9%.
The pan-European Stoxx 600 finished provisionally down 0.8% having earlier hit its lowest point since February 19. Autos led the losses with a 2% drop as all but two sectors traded in the red. Utilities stocks were the best performer, up 0.22% during Friday trade.
In terms of individual stocks, German payments company Wirecard traded 8.4% lower after a German newspaper Handelsblatt reported that the firm was among companies to have processed payments for a network of fraudulent trading websites.
Wizz Air shares fell 2.2% despite posting net profit Friday of 292 million euros ($325 million) in the 12 months to March 31.