Serbia signed an Agreement with the EAEU
Serbian Prime Minister Ana Brnabic and prime ministers of Russia, Belarus, Kazakhstan, Armenia and Kyrgyzstan, as well as the Chairman of the Board of the Eurasian Economic Commission, Tigran Sargsyan signed a Free Trade Agreement between Serbia and the Eurasian Economic Union (EAEU). The agreement will enter into force once it is ratified by parliaments of all six member states, and prime minister invited all participants to do this quickly. The Russian Prime Minister Dmitry Medvedev stated that he expects Serbia to increase merchandize exchange by signing a Free Trade Agreement with the Eurasian Union, as certain products will be cleared of customs duties. The agreement expands the list of products that can be imported into the territory of the EAEU without customs duties, increases quotas for export of merchandize subject to restrictions and extends the free trade area to Armenia and Kyrgyzstan.
NBS: Savings in national currency 75 billion RSD in October
The National Bank of Serbia (NBS) said on Monday the savings in the national Dinar currency (RSD) was 75 billion (1 € = 118 RSD), or four times higher than by the end of 2018, the FoNet news agency reported. Compared to the same month last year, the saving rose for over 30 percent. The Bank said that the savings in foreign currencies were also higher, reaching 10.6 billion Euros.
Saranovic offering 10.5 mln euros for more Kras shares
A 10.5 mln euro order was placed on Thursday to buy 80,000 shares of Croatian confectioner Kras, Zagreb-based Jutarnji list reports, adding that Kappa Star Limited, a company owned by Serbian entrepreneur Nebojsa Saranovic, is behind the offer. The quantity of shares would hand the company, which offered 140.8 euros per share, another 5 pct of the total Kras shares. The offer is two and a half times higher than the 57.7 euro-per-share public acquisition offer made by Croatia's Pivac Brothers Meat Industry a few days ago.
S&P 500 hits fresh all-time high, boosted by strong earnings and US-China trade progress; European stocks eke out gains on US-China trade hope; EU grants 3-month Brexit delay
The S&P 500 hit a record high on Monday as investors cheered strong earnings and progress on U.S.-China trade. The S&P 500 rose 0.6% to 3,039.42, closing above 3,027.98, the record set on July 26. The Dow Jones Industrial Average gained 0.5%, or 132.66 points to 27,090.72. The Nasdaq Composite climbed 1% to 8,325.99.
Microsoft shares contributed to Monday’s gains, rising 2.5% on news the company won a $10 billion cloud contract from the Defense Department. AT&T gained more than 4% after announcing a three-year plan that includes the addition of two new board members and the sale of up to $10 billion worth of non-core businesses in 2020. Alphabet climbed nearly 2% ahead of earnings, but the stock slipped in after-hours trading after the company’s results were released.
European stocks entered positive territory Monday afternoon after U.S. President Donald Trump said he expects to sign a portion of a trade deal with China ahead of schedule.
Meanwhile, the EU granted the U.K. a three-month Brexit extension, and corporate earnings remain on traders’ radars. The pan-European Stoxx 600 climbed 0.3% in afternoon trade, with trade-sensitive automotive stocks rising 1.9% to lead gains.
Europe’s largest lender HSBC reported an 18% drop in third-quarter pre-tax profits compared to the same period last year, sending the stock 3.8% lower to the bottom of the Stoxx 600, closely followed by Britain’s Clydesdale Bank which shed 3.7%.
Dutch conglomerate Philips grew its third-quarter EBITDA (earnings before interest, tax, depreciation and amortization) to 583 million ($646.46 million) euros from 568 million euros a year ago. The company’s stock pared some of its early losses to trade 1.2% lower by the afternoon.