Daily Report 14.10.2019
Objavljeno: 14. 10. 2019


NBS: FX reserves in September at EUR 13.2bn

Gross and net NBS FX reserves continued to rise, hitting in September a new end-of-month high since 2000, i.e. since the data have been tracked in this manner. Gross NBS FX reserves reached EUR 13,295.4 mn, up by EUR 195.5 mn from August. In the past year (since end-September 2018) gross FX reserves increased by EUR 2,122.9 mn (mainly on account of NBS interventions in the domestic FX market in the form of net FX purchases – by EUR 1,985 mn, which is the healthiest way to boost reserves). And this happened in the very period when the Republic of Serbia net repaid its debt under FX loans and securities in the amount of EUR 1,667.2 mn.
Source: NBS

NBS: September saw deflation of 0.5% - annual inflation at 1.1%

Serbia ended September this year with 0.5% deflation, Statistical Office reported on Friday. In addition, annual inflation was at low 1.1%. Major contribution to monthly deflation arrived from lowered prices of fresh fruit and reduced prices of tourism service arrangements. According to the report, NBS expects inflation to remain stable and low, in a targeted range.
Source: NBS, Ilirika

National Assembly of Serbia adopts set of laws on investment funds – Improved access to sources of finance for companies

The National Assembly of Serbia has adopted the Law on Open Investment Funds with a Public Offer, the Law on Alternative Investment Funds and the Law on Amendments to the Law on Deposit Insurance. Serbian Finance Minister Sinisa Mali said that the set of laws pertaining to the participation and the development of investment funds in the Serbian capital market was a further incentive to securing even better conditions for drawing more participants to the market, as well as for improved access to sources of finance for companies. According to him, the Law on Open Investment Funds regulates only the open investment funds with a public offer, which invest in transferrable securities, and the companies which manage such funds, whereas all other funds and forms of management of such funds are regulated by the Law on Alternative Investment Funds.
Source: Ekapija


Dow jumps 300 points after Trump says US has trade deal with China that will come in phases; European stocks close sharply higher on rising trade and Brexit optimism

Stocks rallied on Friday after President Donald Trump said China and the U.S. reached the first phase of a substantial trade deal that delays tariff hikes that were set to kick in next week.
The Dow Jones Industrial Average surged 319.92 points, or 1.2% to close at 26,816.59, led by Apple which surged to an all-time high. The S&P 500 rose 1.1% to 2,970.27, while the Nasdaq Composite jumped 1.3% to 8,057.04. The gains helped the Dow and S&P 500 snap a three-week losing streak. The Dow and S&P 500 gained 0.9% and 0.6%, respectively, for the week. The Nasdaq ended the week up 0.9%.
European stocks closed sharply higher Friday as investors tracked positive signals around U.S.-China trade talks and Brexit. The pan-European Stoxx 600 closed provisionally up by more than 2%, with bank shares soaring close to 5% higher as most sectors and all major bourses traded in positive territory.
In corporate news, Renault ousted CEO Thierry Bollore in a shareholder vote on Friday morning, naming CFO Clotilde Delbos as its interim CEO with immediate effect. Shares of the automaker were trading 5% higher on the back of the news.
Elsewhere, SAP shares jumped 10% after board members Jennifer Morgan and Christian Klein were appointed co-CEOs as the software giant announced that Bill McDermott was stepping down.
Hugo Boss shares also tumbled, down over 13%, after the firm reported disappointing third-quarter results and cutting its guidance.
Source: CNBC