INO:

Dow tanks more than 950 points as Wall Street’s roller-coaster week continues; European stocks close 1.4% lower amid virus volatility; Capita plunges 38%

Stocks plunged on Thursday, erasing most of the steep gains in the previous session, as markets remained highly volatile in the face of the fast-spreading coronavirus. The Dow Jones Industrial Average dropped 970 points, or 3.5%, in afternoon trading. The S&P 500 dropped 3.3% and the Nasdaq Composite fell 3.1%. Stocks hit their session lows as the rate on the 10-year Treasury note fell to an all-time low below 0.9%. All 11 S&P sectors finished the day in the red.
European stocks closed lower Thursday, continuing a week of wild volatility for global markets amid fears over the coronavirus outbreak.
The pan-European Stoxx 600 closed around 1.4% lower provisionally. The index had earlier fallen as much as 2.8%. Basic resources and autos were among the worst performing sectors.
Hellofresh was among the top gainers, jumping over 5% after JPMorgan upgraded the German meal-kit company’s stock. Earnings remained a key driver of individual price action across the European benchmark.
Hugo Boss shares rose 2.8% after the company reported a fall in annual profit for 2019, but lifted its dividend and offered optimistic 2020 guidance.
Source: CNBC

SERBIA:

NLB plans for Komercijalna Banka to become most important partner to agri-business in Serbia

The plan is for Komercijalna Banka to become the most important partner to agri-business in Serbia, Blaz Brodnjak, the president of the board of Nova Ljubljanska Banka (NLB), which has bought 83.23% of Komercijalna Banka, said for eKapija. NLB Banka Beograd is already one of the most important partners to agri-business in Serbia, and the potential of Komercijalna Banka, thanks to its relations, accounts and contacts with agriculturists in Serbia will now be used and we believe that this will make us even more significant, if not the most significant partner to agri-business in Serbia – Brodnjak told our portal.
Source: Ekapija

JP Morgan projects Serbian 2020 growth to be 4.5 pct

Serbian President Aleksandar Vucic on Wednesday said the US investment bank JP Morgan projected the Serbian economy to grow at a rate of 4.5 pct in 2020. "JP Morgan has said Serbia will succeed in overcoming all regional difficulties and that our growth will be as high as 4.5 pct this year," Vucic noted at a press conference. The JP Morgan growth projection for Serbia is higher than the IMF and World Bank forecasts of 4 pct, he said.
Source: Tanjug

Creative industries sector accounts for 5% of Serbian GDP

The Serbian creative industries sector accounts for as much as 5 pct of the country's GDP and is seeing an evident growth trend that puts it almost on par with tourism (6 pct) and agriculture (6 pct), according to a report by the Belgrade Faculty of Economics on the creative industries' impact on the national economy. A 25 pct increase in the number of registered companies (from 56,000 to 70,700 in 2016-2018) engaging in one of 80 activities based on talent, ideas, knowledge and creativity, as well as 120,000 jobs created, indicate the sector's development and significance, the report concludes. The sector has received major investments worth over 400 mln euros in the past three years alone, along with investments in research and development, education and creation of new value and new intellectual property.
Source: Tanjug