INO:
Dow ekes out record close as Boeing jumps, but trade and Hong Kong worries cap gains; European stocks traded mixed Monday
The Dow Jones Industrial Average traded slightly higher on Monday, erasing a deficit of 163 points, as Boeing shares popped on news its will resume deliveries of beleaguered 737 Max jet next month. The 30-stock average was up by 11 points in midday trading, or 0.04%. Boeing shares were up more than 4.5% on the news. But the rest of the market remained slightly lower amid lingering U.S.-China trade worries while protests in Hong Kong escalated.
The S&P 500 slipped 0.2%, led lower by the utilities and health care sectors. The Nasdaq Composite dipped 0.2%.
European stocks traded mixed Monday amid a dampening of optimism over U.S.-China trade talks, after President Donald Trump denied that he had agreed to roll back tariffs on Chinese goods.
The pan-European Stoxx 600 index was largely unchanged during afternoon deals. Basic resources stocks — with their heavy exposure to China — slipped over 1%.
British baker Greggs surged more than 16% to lead the Stoxx 600 after posting strong sales growth and upgrading its 2019 profit forecast.
At the other end of the European blue chip index, London-based insurance group Beazley fell 5% after UBS cut its price target for the stock. while Danish jeweler Pandora saw its shares slip 2% due to its exposure to Hong Kong and the latest escalation of violence in the city.
Source: CNBC
SERBIA:
NIIS: Serbia's NIS 9-mo cons net profit halves
Serbian oil and gas group NIS recorded a net profit of 10.7 billion dinars ($100.5 million/91.1 million euro) in the first nine months of 2019, sharply down from 21.7 billion dinars in the like period of last year, the company said on Friday. The company's earnings before interest, taxes, depreciation and amortisation (EBITDA) amounted to 31.2 billion dinars, down from 42 billion dinars, while liabilities in terms of taxes and other public revenues fell to 136.6 billion dinars from 142.3 billion dinars, NIS said in a statement. The result was affected by poor performances in both 1Q and 2Q period – capital maintenance and drop in crude oil price were major factors behind lower EBITDA and net result. Oil and gas production amounted to 965,000 tonnes of oil equivalent, down from 999,000 tonnes in the first nine months of 2018, and 2.3 million tonnes of crude oil and semi-finished product were processed, NIS noted. NIS' retail sales in Serbia increased by 5% on the year in the nine months through September 2019.
Source: SeeNews, NIS, Ilirika
EC forecasts Serbia's growth to remain firm
Despite a global economic slowdown, Serbia's economy is on track to continue its robust growth coming from strong investment and steady private consumption, sustained by rising employment and income levels, the European Commission says. Growth remains firm and Serbia is registering record-high FDI inflows, risks appear balanced and the budget is in excellent condition, the EC said in its autumn 2019 European Economic Forecast. The EC has revised upwards its 2019 projection of Serbia's economic growth by 0.1 pp to 3.2 pct. In a spring forecast, the EC had projected 3.1 pct growth for Serbia. The latest report forecasts Serbia's GDP growth to be 3.8 pct in 2020 - unchanged from the spring projection - and 3.7 pct in 2021.
Source: Tanjug
Unemployment in Serbia lowest ever, Employment Service chief says
Serbian National Employment Service CEO Zoran Martinovic said on Friday that there are around half a million unemployed in the country, adding that the unemployment rate is the lowest ever recorded. Speaking after a meeting with Employment Service branch chiefs, he said that Serbia had an unemployment rate of almost 750,000 in mid-2014. “Some 122,000 people were included in an employment program in 2019 and 20,000 of them got financial help, training and other things,” he said.
Source: N1