INO:

Dow falls more than 100 points after suffering a sudden midday sell-off that confused traders; European stocks close lower as investors monitor coronavirus and earnings; Air France KLM down 3%

Stocks fell on Thursday, with most of the losses coming in a sudden move midday. Traders could not pinpoint a catalyst for the sudden decline. However, some highlighted technical factors breaking down along with an increased risk-off sentiment stemming from fears of the coronavirus slowing the global economy. The Dow Jones Industrial Average closed 130 points lower, or 0.5%. The 30-stock average went from trading down about 200 points to a session low of down 388 points in roughly two minutes before rebounding. The S&P 500 slid 0.4% and the Nasdaq Composite dropped 0.7%. Thursday’s moves come a day after the S&P 500 and Nasdaq hit record highs.
Traders have been pricing in at least one rate cut from the Fed for this year, CME Group’s FedWatch tool shows. Expectations for lower rates come as investors grapple with the outbreak of the deadly coronavirus and its ramifications for the global economy.
The pan-European Stoxx 600 closed down 0.6% provisionally, with insurance stocks shedding 1.7% to lead losses while auto shares were among the only gainers, climbing 0.7%.
Air France KLM reported a fall in profits in 2019 and warned that the coronavirus could hit its operating profit by up to 200 million euros between February and April ($215.75 million). The Franco-Dutch carrier saw its shares slide over 3%.
Telefonica stock fell almost 4% after swinging to a fourth-quarter net loss, while Swiss Re dropped more than 7% to the bottom of the Stoxx 600 after missing 2019 profit expectations.
Source: CNBC

SERBIA:

Serbian central bank says growth to stand at four percent in 2020-21

The National Bank of Serbia (NBS) said on Wednesday that growing investments, exports and household spending would bring economic growth to four percent in 2020 and 2021 with inflation remaining at low levels. NBS Governor Jorgovanka Tabakovic told a presentation of a report on inflation that infrastructure projects, improvements in the business environment and better sources of financing for the private sector would contribute the most to the rise in investments.
Source: N1

Serbia must have annual growth of 7%

Achieving fiscal and monetary stability is no longer the central issue for the Serbian economy, which now needs robust growth to catch up with developed European countries, says Aleksandar Vlahovic, who heads the Kopaonik Business Forum Programming Committee. Last year's growth - essentially due to a construction industry boom and the capital project of the TurkStream gas pipeline - moves Serbia forward compared to central and eastern European countries, Vlahovic told Vecernje novosti. Investments and institutions are the key precondition for achieving and maintaining high growth rates, he said. "At the same time, Serbia must have an ambitious development agenda that will enable it to reach annual growth of 7 pct. That would double the GDP within a period of one decade. In terms of the population's living standards, such growth would push Serbia strongly towards today's EU average," he said.
Source: Tanjug

KMBN: Privatisation of Komercijalna banka not a must

The state can be a responsible owner of Komercijalna banka, National Bank of Serbia Governor Jorgovanka Tabakovic said Wednesday, noting that a decision on a sale of the bank was not hers to make, but up to the state. Tabakovic was speaking at the presentation of the February inflation report. When asked by a reporter to comment on her opposition to a sale, she said this was her opinion and that she was entitled to give it but that she did not expect anyone to change a decision or become angered by her comments.
Source: Tanjug