INO:

Stocks close little changed to end winning week as US and China strike an initial trade deal; European stocks close higher on US-China deal;

Stocks were little changed on Friday after China and the U.S. agreed to a phase one trade deal as investors concluded a solid week of gains. The trade deal will include a rollback of some of the China tariffs and halts additional levies set to take effect on Sunday. China agreed to significant purchases of U.S. agricultural products, but the amount is below what the White House was reportedly pushing to get. On the U.S. side, investors were hoping for more than just a partial rollback of some tariffs.
The Dow Jones Industrial Average ended the day just 3.33 points higher at 28,135.38. The S&P 500 closed just above the flatline at 3,168.80 while the Nasdaq Composite gained 0.2% to 8,734.88. Earlier in the day, the major averages hit record highs.
Apple led Friday’s slight gains, rising 1.4% to a record after news of the trade agreement was announced. Some of the tariffs set to take effect Sunday would have impacted some of Apple’s key products, including the iPhone.
European stocks closed higher Friday after news that the U.S. and China have reached a phase one trade deal, while the U.K.’s ruling Conservative Party won a commanding majority in the general election. The pan-European Stoxx 600 traded around 1.1% higher by the close of trade, with travel and leisure stocks soaring 3.7% to lead gains as all sectors and major bourses traded in positive territory. Retail stocks added 2.9% while both banks and basic resources each gained just shy of 1%.
German takeout company Delivery Hero soared more than 22% after announcing a $4 billion deal to buy South Korea’s Woowa.
Source: CNBC

SERBIA:

S&P Global Ratings improved Serbia’s sovereign credit rating to ‘BB+’ from ‘BB’

S&P Global Ratings raised on Friday 13 December 2019 Serbia’s sovereign credit rating to ‘BB+’ from ‘BB’ and maintained a positive outlook, citing as key driver behind the upgrade Serbia's resilient exports and investment-driven economic growth in the face of the challenging external environment. S&P expects that despite global slowdown, Serbia’s GDP will expand by 3.6% this year, exceeding the initial projections. For 2020, they expect GDP growth of close to 4%, supported by continued vibrant exports and robust investment. According to the Agency, an important ingredient to dynamic growth is the resilience of Serbian exports, which continue to post double-digit growth rates in the face of external demand weakness.
Source: Tardeeconomics, NBS

Serbian marketing industry sees 48.2 bln RSD revenues

Operating revenues of the Serbian marketing industry totalled 48.2 bln dinars in 2018 while net profits stood at 2.5 bln dinars, according to the results of a Marketing Network survey. Compared to 2017, operating revenues rose by 8.23 pct, while net profits were up by 2.14 pct, said an analysis of the results, which notes that the Serbian marketing communications market continues to grow on all financial parameters. Digital marketing agencies and PR agencies saw the highest revenue increases, with 22.4 pct and 18.3 pct growth, respectively.
Source: Tanjug

NBS intervenes, dinar-to-euro rate RSD 117.5163

The National Bank of Serbia (NBS) bought 45 mln euros on the interbank foreign exchange market, making Monday's official dinar-to-euro median exchange rate 117.5163 dinars for one euro, which is a slight change from Friday, the NBS said. The dinar will remain steady against the euro m-o-m, rising 0.7 pct y-o-y and 0.6 pct compared to the beginning of the year. The indicative exchange rate against the dollar fell 0.4 pct to 105.5757 dinars for one dollar on Friday. The dinar rose 1.0 pct against the dollar m-o-m, declining 1.3 pct y-o-y and 2.1 pct since the beginning of the year.
Source: Tanjug