KMBN: Finnace Minister expects four binding bids for Komercijalna Banka
Serbian Finance Minister Sinisa Mali said today that the privatization of Komercijalna Banka went as planned and presented new details from the procedure of the sale of the bank where the state owns 42% of the capital. A detailed analysis of the bank's operations by interested companies is in progress, and I expect all four interested companies to make binding bids – Mali specified. We can't yet disclose the names, but I can says that there are three banks, including a domestic one, and a foreign fund – Mali said recently.
IMF: Serbia's performance robust, record-low unemployment
Serbia's economic performance remains robust and unemployment has fallen to record-low levels, with 3.5 pct and 4 pct growth projected for 2019 and 2020, respectively, an IMF team headed by Jan Kess Martijn concluded at the end of a two-week visit to Serbia. The mission agreed with the authorities on the key parameters of the 2020 budget, targeting an overall fiscal deficit of 0.5 pct of GDP. This level would preserve fiscal discipline and keep public debt on a downward path. The reintroduction of pension indexation in 2020 will ensure a more rules-based system.
Serbia attracted 2.3 bln euros of FDI in first seven months of 2019
Serbia attracted 2.3 bln euros worth of FDI in the first seven months of this year, which is 43 pct more compared to the same period last year, Finance Minister Sinisa Mali said Tuesday. Speaking at a press conference, he said the Financial Times had named Serbia the global leader in attracting FDI and that the country had attracted 5.8 bln dollars of FDI last year.
Dow surges more than 200 points, closes back above 27,000 as JP Morgan surges on earnings; European stocks close higher as EU negotiator says Brexit deal is still possible
Stocks closed sharply higher on Tuesday as the corporate earnings season got off to a strong start. The Dow Jones Industrial Average rose 237.44 points, or 0.9% to close at 27,024.80. Tuesday marked the Dow’s first close above 27,000 since Sept. 19. The S&P 500 gained 1% to close at 2,995.68 while the Nasdaq Composite advanced 1.2% to 8,148.71. The S&P 500 was about 1% away from reaching an all-time high.
J.P. Morgan Chase shares jumped 3% to a record after its third-quarter numbers topped analyst expectations. The company’s revenue also hit a record, boosted by home and auto loans along with credit cards.
UnitedHealth, another Dow member, posted a quarterly profit that topped analyst expectations by 13 cents per share. The company’s results got a boost from growing pharmacy benefits. UnitedHealth also hiked its full-year earnings guidance. UnitedHealth shares climbed 8.2% to notch its biggest one-day gain in over a decade. Johnson & Johnson, meanwhile, saw its third-quarter numbers lifted by higher sales of cancer and other prescription drugs. The numbers sent the stock up by 1.6%.
European stocks closed higher Tuesday after European Union negotiator Michel Barnier said a Brexit deal between the bloc and the U.K. is still possible this week. The pan-European Stoxx 600 was 1% higher at the closing bell. Retail and banking stocks climbed 2.4% to lead gains as all sectors traded in positive territory.
British recruitment group Hays saw its shares rise 8% after reporting flat net fees for the first quarter as overseas growth offset U.K. weakness.