INO:

Dow drops more than 250 points, falling for a third day as Trump hints at trade deal delay; Europe markets close lower after Trump comments on China trade deal; FTSE down 1.6%

U.S. equities sank on Tuesday after President Donald Trump suggested he may want to delay a trade deal with China until after the 2020 presidential election. The Dow Jones Industrial Average fell 286 points, led lower by trade-vulnerable Apple, Caterpillar and Boeing. The S&P 500 slid 0.7% amid losses in chip stocks like Nvidia, Micron and Advanced Micro Devices. The Nasdaq Composite lost about 0.6%.
The pan-European Stoxx 600 traded down by nearly 0.6% by the close of trade, as investors digested different developments on the trade front.
Furthermore, the U.S. trade representative also said Monday that it could put duties of up to 100% on certain French products. This is on the back of France’s decision to apply a tax on digital companies. The U.S. trade office concluded that the French levy is harmful to U.S. tech companies. French luxury stocks were down on the news. Kering, Hermes and LVMH dropped more between 1.5%and 2.5%.
Source: CNBC

SERBIA:

Serbia's GDP grows 4.8% y/y in Q3

Serbia's gross domestic product (GDP) grew by a real 4.8% year-on-year in the third quarter of 2019, the country's statistical office said. On a quarterly comparison basis, Serbia's economy expanded by 2.2% in the third quarter of 2019, the statistical office said on Monday. The third quarter of 2019 saw a significant real growth of gross value added in the construction sector, of 34.7% year-on-year, while the sector of information and communication expanded by 7.7%. The sectors of wholesale and retail trade; repair of motor vehicles and motorcycles; transportation and storage; accommodation and food service activities added 5.4% each. Among GDP components, households' expenditures on final consumption increased by an annual 3.1% in the third quarter, whereas general government expenditures on final consumption grew by 4.6%.
Source: SeeNews

Petrohemija to invest EUR 15.4 million in processing capacity increase

The Supervisory Board of HIP Petrohemija has considered the planned investments of EUR 15.4 million for 2020 and concluded that the key change was to increase the processing capacities, as announced in the state company's journal. The Supervisory Board adopted the business report for October and the first ten months of the year and expressed concern over the business result trends, since the EBITDA in the first ten months is “minus RSD 740 million”, which, as said, is lower than planned. The next year will be a challenge for the petrochemical industry due to the negative trend of the prices of petrochemical products in the world market.
Source: Ekapija

Chinese company CCECC interested in building Valjevo-Loznica railway

The Minister of Construction, Transport and Infrastructure of Serbia, Zorana Mihajlovic, has talked with a delegation of China Civil Engineering and Construction Company (CCECC) about the possibilities of cooperation on new railway projects. The director of the Balkans Office of CCECC, Sun Man, says that the company specializes in railway projects and that, in Serbia, it is interested in the Valjevo-Loznica railway project.
Source: Ekapija