INO:

Dow falls 100 points, snaps 3-day winning streak as Apple shares slide; European stocks close lower amid weak Chinese data

Stocks fell for the first time in four sessions on Monday as investors took a pause after a sharp rally in the previous session. The Dow Jones Industrial Average closed 105.46 points lower, or 0.4% at 27,909.60. The S&P 500 pulled back 0.3% to 3,135.96 and the Nasdaq Composite slid 0.4% 8,621.83. Apple fell 1.4% to lead the Dow lower. During Monday’s session, investor focus turned back to the prospect of a limited trade agreement between the U.S. and China, with less than a week to go before Washington is set to impose even more tariffs on Chinese goods.
In corporate news, Sanofi will acquire biotech company Synthorx for $2.5 billion, or $68 per share. The acquisition price represents a 172% premium from Synthorx’s close of $25.03 on Friday. The deal is expected to close in the first quarter of next year.
European stocks closed lower on Monday as weak Chinese export data highlighted the detrimental impact of its prolonged trade war with the U.S. The pan-European Stoxx 600 ended the session 0.2% lower, with oil and gas stocks falling 1% to lead losses while the retail sector added 0.5%.
Osram Licht shares jumped 15% after chipmaker AMS announced that its takeover bid for the German lighting manufacturer had been successful. AMS shares slid 4.7% on the news.
Source: CNBC

SERBIA:

Serbia's budget surplus at 64.8 bln dinars at end-October

Serbia's budget surplus stood at 64.8 bln dinars at the end of October, and a 14.9 bln dinar surplus was registered in October alone, the Ministry of Finance said on its official website Friday. Revenues totalled 1,047 bln dinars and expenditures were at 983.1 bln dinars. October revenues were at 118.7 bln dinars, with tax revenues accounting for 102.5 bln dinars. VAT made up most of the tax revenues (56.8 bln dinars), followed by excise taxes (25.8 bln dinars). Non-tax revenues amounted to 15.5 bln dinars while revenues from donations stood at 0.7 bln dinars. Expenditures stood at 103.9 bln dinars.
Source: Tanjug

Serbia's public debt steady at 52 pct of GDP at end-October

Serbia's public debt stood at 23.97 bln euros at the end of October 2019, which is a slight change from September, the Serbian Ministry of Finance announced on its website Friday. At 52 pct, the debt-to-GDP ratio was steady in October compared to the previous month. At the end of 2018, the public debt totalled 23.01 bln euros - or 53.8 pct of GDP. The debt-to-GDP ratio was at its lowest in 2008, when it stood at 28.3 pct.
Source: Tanjug

Serbian dinar tops JP Morgan ranking

The Serbian dinar is neither overvalued nor undervalued, but realistically valued and tops a JP Morgan ranking of 25 currencies of developing countries around the world, according to a report released by the international financial institution. According to the report, the high ranking of the dinar is mostly due to a growth of productivity in Serbia and a high share of investment in GDP, a very high FDI inflow, reduced external vulnerability of the country and a decline of the external debt-to-GDP ratio from 73.5 pct in 2015 to 63.3 pct in 2019.
Source: Tanjug