INO:

S&P 500 rises on earnings and trade optimism, flirts with record high to end the week; European stocks close slightly higher as investors digest a fresh round of corporate earnings

Stocks rose on Friday as investors cheered strong quarterly earnings from Intel along with apparent progress on the U.S.-China trade front.
The S&P 500 climbed 0.4% to 3,022.53 and briefly traded above its record closing high. The broad index also came within inches of its intraday all-time high. The tech sector closed at a record high, rising more than 1% on Friday. The Dow Jones Industrial Average closed 152.23 points higher, or 0.6% at 26,958.06. The Nasdaq Composite advanced 0.7% to 8,243.12.
Intel shares jumped 8.1% after the chipmaker’s results topped analyst expectations. Intel also issued better-than-expected guidance for the fourth quarter.
Amazon, meanwhile, posted weaker-than-expected earnings. The e-commerce giant also issued disappointing guidance for the holiday season.
Markets also got a boost from trade optimism. The U.S. Trade Representative said China and the U.S. were close to finalizing parts of a phase one trade deal
European stocks ended slightly higher on Friday after a substantial round of corporate earnings, while traders also monitored Brexit developments and tense exchanges between the U.S. and China. The pan-European Stoxx 600 finished provisionally higher by 0.12%, with retail stocks rising just over 1.1% to lead gains while food and beverages dropped nearly 1.7% as sectors and major bourses pointed in opposite directions.
British lender Barclays reported a net loss for the third quarter on Friday after being hit by £1.4 billion ($1.8 billion) worth of insurance claims, but traded 2.2% higher on the back of strong underlying figures.
Belgian brewer AB InBev posted flat third-quarter EBITDA (earnings before interest, tax, depreciation and amortization), sending the stock tumbling 10.5%.
Ubisoft fell nearly 16% after cutting its profit guidance and delaying the release for some triple-A games.
Source: CNBC

SERBIA:

Serbian August average net monthly wage 54,115 dinars

The average net monthly wage in Serbia was 54,115 dinars in August, rising 8.7 pct in nominal terms and 7.3 pct in real terms compared to the same month of last year, the national statistical office RZS said in a statement Friday. The August average gross monthly wage was 74,768 dinars, rising 8.6 pct in nominal terms and 7.2 pct in real terms y-o-y. In the period from January to August, gross monthly wages rose 9.7 pct in nominal terms and 7.4 pct in real terms y-o-y, while net wages grew 9.9 pct in nominal and 7.6 pct in real terms y-o-y, the RZS said in a press release.
Source: Tanjug

Shortage of skilled labor in Serbia, entrepreneurs say

The biggest problem facing entrepreneurs in Serbia is the shortage of skilled labor, the Ernst&Young company said on Friday. A presentation of the EY Entrepreneurship Barometer 2019 at the Serbian Chamber of Commerce (PKS) was told that 90 percent of Serbian entrepreneurs said the shortage of skilled workers is the biggest challenge their companies face. “The chronic shortage of workers is a national problem which has to be solved strategically to avoid a situation in which the planned GDP growth is not achievable,”Ernst&Young Country Managing Partner Ivan Rakic said.
Source: N1

IMPL: Slovenian owners invest 107 mln euros in Serbia's Impol Seval

Serbia's Sevojno aluminium rolling mill has increased its output five-fold since an acquisition by the Slovenian company Impol 17 years ago, it exports 96 pct of its products and the current owners have invested 107 mln euros in upgrades at the plant. "For Impol Seval, every business year is better than the previous one, and even this year, we are successfully fighting a recession on the European market. The profits generated since the beginning of the year are at 95 pct of the plan. Last year, Impol Seval profits were over 7.5 mln euros, with most of the amount used to continue a new investment cycle," said Impol Seval CEO Ninko Tesic. He said the company's exports would reach 110 mln euros by the end of the year.
Source: Tanjug