INO:

Dow surges more than 300 points on blockbuster jobs data, S&P 500 erases losses for the week; European stocks close higher after strong US jobs report; Swiss Re up 3%

Stocks surged on Friday on the back of U.S. jobs growth that easily topped analyst expectations as Wall Street wrapped up a choppy week of trading. The Dow Jones Industrial Average was up 337.27 points, or 1.2% at 28,015.06. Friday’s performance was the Dow’s best since Oct. 4, when it rallied 1.4%. The S&P 500 closed 0.9% higher at 3,145.91 — its biggest one-day gain since Oct. 15 — while the Nasdaq Composite jumped 1% to 8,656.53.
The U.S. economy added 266,000 jobs in November, according to figures released by the Labor Department. Economists polled by Dow Jones expected a gain of 187,000. The unemployment rate fell to 3.5%, matching its lowest level since 1969.
European stocks closed higher Friday as investors digested a better-than-expected nonfarm payrolls report from the U.S. The pan-European Stoxx 600 closed provisionally over 1% higher with every sector in the black.
Looking at individual stocks, the insurer Swiss Re also traded higher after announcing that it is selling its British unit to Phoenix Group Holdings for £3.2 billion ($4.1 billion). Shares were up 3%.
Meanwhile, Glencore shares had initially dropped following a Wall Street Journal report that the mining company is being investigated in a U.K. bribery probe. But the stock later rose almost 2% amid the broader rally among equities.
Source: CNBC

SERBIA:

Farmakom M.B. concern with four lead, antimony and zinc mines up for sale

Based on the decision on bankruptcy, the Sabac-based concern Farmakom M.B. has been put up for sale as a legal entity. The estimated value is around RSD 1.2 billion. The property consists of lead, antimony and zinc mines – Rujevac, Stolice, Kik Dolic and Ravnaja, as well as immovable property in Planina, Brstica, Kostajnik, Likodra, Krasava, Tolisavac and Zavlaka with the accompanying movable property and claims. Also up for sale is the company’s movable property, divided into lots. The offer includes the substation in Sabac, estimated at RSD 4.7 million, as well as stock in Dobric, equipment in Guca and office furniture at the Belgrade branch. The sale is to be carried out through the public collection of written bids. Bids are to be sent to the bankruptcy supervisor no later than January 27, 2020, by 11.45 am. The public opening of bids takes place 15 minutes later on the same date.
Source: Ekapija

Serbian Finance Minister says income taxes lower next year

Serbian Finance Minister Sinisa Mali said on Friday that taxes on salaries would be lowered next year to stimulate employment and wage raises. He said that the set of tax laws which parliament adopted will help economic growth and the opening of new jobs. “We lowered taxes on wages to 62 percent last year and they will be 61 percent next year,” he said adding that this means a lower budget income by 13.1 billion Dinars. Mali said that the non-taxable part of salaries will be increased.
Source: N1

Serbia’s Parliament: ‘Swiss formula’ for pensioners, income classes in 2021

Serbia’s Parliament passed laws on pension system and income classes in state sector on Friday, opting for the ‘Swiss formula’ for 1.7 pensioners in the country and postponing the decision on income classes for 2021, although the changes were planned for the next year, the Beta news agency reported. Swiss formula’ means that the pensions in Serbia will be adjusted to 50 percent of inflation and 50 percent of an average wage.
Source: N1