INO:

Dow jumps 170 points, Amazon leads S&P 500 and Nasdaq to record highs; European markets close mixed as coronavirus concerns linger

Stocks rose on Monday, rebounding from a decline earlier in the day, led by solid gains in tech shares such as Amazon. The Dow Jones Industrial Average gained 174.31 points, or 0.6%, to close at 29,276.82 after dropping more than 100 points to start off the session. The S&P 500 advanced 0.6% to 3,352.09 while the Nasdaq Composite gained 1% to end the day at 9,628.39. Both the S&P 500 and Nasdaq reached all-time highs.
Amazon rose 2.6% to a record high, breaking above $2,100 per share for the first time. Netflix and Alphabet both closed more than 1% higher while Facebook eked out a gain. Tesla, meanwhile gained more than 3% in another volatile session for the electric car maker.
Apple shares fell as much as 1.9% on Monday amid concerns the outbreak will hurt production of the tech giant’s best-selling product, the iPhone. Foxconn, one of Apple’s biggest suppliers, got approval to resume production at a key manufacturing plant but only 10% of its workforce has returned, Reuters reported.
European markets closed mixed Monday amid ongoing concerns around the coronavirus outbreak in China. The pan-European Stoxx 600 closed provisionally marginally higher, with sectors and major bourses pointing in different directions. Oil and gas stocks fell over 1% to lead losses while construction shares were the top gainers adding 0.6%.
In corporate news, German newspaper Handelsblatt reported on Sunday that German carmaker Daimler planned to cut up to 15,000 jobs as it intensified cost-cutting measures.
Source: CNBC

SERBIA:

KMBN: Komercijalna banka only bank able to fund development projects, CEO says

Komercijalna banka Executive Board President Vladimir Medan says the bank improved all parameters of its operations in 2019, achieving a new record result. "We strengthened the capital base and enabled the bank to keep up with all major projects from the Serbian development plan for the next five years (the Serbia 2025 programme). Komercijalna banka is the only domestic bank whose capacities make it capable of financing, and keeping up with, the development projects to be implemented in Serbia and the region in the coming years," Medan told Vecernje novosti. He said Komercijalna banka was the only bank with a daughter bank in the region and that its overall capital had risen 17 pct from 64 bln to 75.3 bln dinars.
Source: Tanjug

IMF mission to visit Begrade at end-February

Serbian Finance Minister Sinisa Mali has announced an IMF mission would visit Belgrade at the end of February to discuss Serbia's 2019 economic performance, the projected growth rates, as well as a pay band reform and a continued reform of the Tax Administration.
Source: Tanjug

MK Group acquisition of Victoria Group approved

The Serbian Commission for Protection of Competition has approved a MK Group acquisition of direct individual control over Victoria Group and its affiliate companies following the MK Group's purchase of 67 pct of Victoria Group shares, the commission said in a decision. At the beginning of 2019, businessman Milija Babovic had a 45 pct stake in Victoria Group while an additional 22.5 pct is owned by Victoria Group itself. The group, which has 12 affiliates, posted an overall 6.89 bln dinar loss above capital value in 2018.
Source: Tanjug