INO:

Dow plummets 600 points in worst day since August as coronavirus fears grow; European stocks close lower as UK coronavirus cases confirmed

Stocks fell sharply on Friday, wiping out the Dow Jones Industrial Average’s gain for January, as investors grew increasingly worried about the potential economic impact of China’s fast-spreading coronavirus. The Dow dropped 603.41 points, or 2.1%, to 28,256.03 in the 30-stock average’s worst day since August. The S&P 500 had its worst day since October, falling 1.8% to 3,225.52. The Nasdaq Composite dropped 1.6% to 9,150.94.
On the positive side, Amazon shares surged 7.4% after the company posted a quarterly profit and revenue that easily beat analyst expectations. Amazon Web Services, the company’s cloud business, saw stronger-than-expected revenues.
The pan-European Stoxx 600 ended the session 1% lower, with basic resources falling 1.7% to lead losses as all sectors and major bourses were in the red. Losses for European markets were deepened as initial GDP (gross domestic product) growth estimates published Friday revealed that the euro zone economy grew less than expected in the fourth quarter of 2019, while core inflation slowed, which will likely concern the European Central Bank (ECB). Quarter-on-quarter, euro area GDP rose 0.1% for a 1.0% year-on-year gain, according to Eurostat, below Reuters polling estimates of 0.2% and 1.1% respectively.
Electrolux stock slid 2.3% after missing fourth-quarter earnings expectations and issuing a warning over potential costs arising from the coronavirus outbreak.
Source: CNBC

SERBIA:

Potential increase in fuel prices – Law on Excise Taxes allows for change of oil product prices

In line with the current Law on Excise Taxes, the price of oil products in Serbia might soon increase by slightly over one diner per liter on average. The current law allows for the excise tax on oil products to be harmonized with the growth of the retail prices in the previous year. As the Statistical Office of the Republic of Serbia recently announced, the growth of retail prices in 2019 amounted to 1.7% on a year-over-year basis. This means that the oil products, taking into account the VAT as well, might increase by the same amount. As the excise tax on BMB 95 petroleum is currently 56.02 dinars, the new price, when the index of the growth of retail prices is added to it, could be 56.99 dinars, and when the VAT is added to it, the increase in the price of a liter of unleaded petroleum would be more than 1.14 dinars.
Source: Ekapija

Petrohemija Pancevo expects EUR 5 million in investments – New employments planned

HIP Petrohemija ended 2019 with a negative result of RSD 1.21 billion in terms of gross profit, the company newsletter Informator announced. The state company had an income of RSD 29.2 billion, but the EBITDA and the net result are negative and lower by 2.35 billion than planned for 2019, Informator reports from the session of the Supervisory Board of Petrohemija. At the January session, the Supervisory Board adopted the reports on the operations in December and the 12 months of the previous year and concluded that the reason for the results being worse was “the negative trend of the prices of petrochemical products”, reports 0.13.info.
Source: Ekapija

Serbian December industrial output 8.3 pct up y-o-y

Industrial output in Serbia in December 2019 was 8.3 pct up y-o-y and 5.9 pct up relative to the 2018 average, the national statistical office RZS said Friday. "The divisions of: manufacture of fabricated metal products, except machinery and equipment, generation of electricity, manufacture of machinery and equipment n.e.c. manufacture of motor vehicles, trailers and semi-trailers, and manufacture of basic metals" had the largest influence on industrial production growth in December 2019 compared to December 2018, the RZS said. Overall industrial production in 2019, compared to 2018, increased 0.3 pct.
Izvor: Tanjug