EAEU-Serbia deal due to be signed in October
An agreement between the Eurasian Economic Union (EAEU) and Serbia on setting up a free trade zone is due to be signed in October this year, Eurasian Economic Commission board member Veronika Nikishina said Thursday. "This year we concluded negotiations with Serbia and are now launching the procedure for the signing of this agreement. We hope to sign it in October," Nikishina said at an international conference in Astana. The EAEU is just a step away from concluding talks with Singapore about a free trade zone and wants to sign an agreement this year, TASS quoted her as saying.
NBS FX reserves rise to 11.44 bln euros in March
Gross FX reserves of the National Bank of Serbia (NBS) amounted to 11.44 bln euros at end-March, up by 42.1 mln euros m-o-m and by as much as 1.20 bln euros y-o-y, the NBS announced in a statement Thursday. Gross FX reserves expanded in March against the backdrop of significant government debt repayment (FX loans and securities), mainly as a result NBS activity in the domestic FX market - the net inflow of 77.0 mln euros (an inflow of 105.0 mln euros from NBS FX purchase interventions in the IFEM and an outflow of 28.0 mln euros under additional FX swap auctions that pushed up the level of FX reserves in February).
Krka proposes 10.3% higher cash dividend, Luka Kopre posted 8% sales growth in 1Q19, IMAD sees favorable economic trends in Slovenia this year
Slovenian pharma company, Krka, says it will propose 10.3% higher cash dividend from 2018 profit. The amount should stand at EUR 3.2 per share, which will bring 5.35 gross yield on a current market price. On the other side, port operator Luka Koper generated almost EUR 60m in net revenue in the first quarter of the year, an 8% increase compared to the same period in 2018. According to the group, its transshipment decreased by 3% to around 6 million tonnes. The government macroeconomic think tank says in its latest publication that Slovenia has recorded favourable economic trends and a growth in revenue and spending by households at the beginning of the year, while growth in the international environment is slowing down.
Source: LJSE, Ilirka, Luka Koper
Stocks close little changed as Wall Street gets set for the start of the corporate earnings season, European markets close higher as airline stocks rally on Brexit extension
Stocks closed along the flatline on Thursday as Wall Street looked ahead to the start of the earnings season. The Dow Jones Industrial Average dipped 14.11 points to 26,143.05 as Apple slipped 0.8%. The S&P 500 posted a marginal gain to end the day at 2,888.32 while the Nasdaq Composite slipped 0.2% to 7,947.36. Thursday’s session saw the lowest trading volume since Dec. 24.
Chipotle Mexican Grill shares fell more than 1% after Jefferies downgraded them, citing a “full” valuation and a run-up that “reflects improved visibility for powerful [same-store sales] and margin drivers.”
Tesla, meanwhile, fell nearly 3% after a report said the company and Panasonic were holding off on a Gigafactory expansion. The delay, according to the Nikkei report, is due to worries that demand for Tesla vehicles is slowing down.
European stocks were slightly higher Thursday, with shares of major airlines rallying in afternoon trade, after EU leaders granted the U.K. a further extension to the date of Brexit.
The pan-European Stoxx 600 closed provisionally up around 0.1%, with most sectors and major bourses in positive territory.
Travel and leisure stocks were among the outperformers, rising more than 1% following the EU’s offer to push back the U.K.’s departure from the bloc until Oct. 31. EasyJet, Tui and IAG were the top performers in the sector, while easyJet also led the Stoxx 600, rising almost 9%.