INO:

Stocks post biggest rally since 2008, clawing back some of their coronavirus collapse; European stocks close higher, but down 19% on the week in worst sell-off since 2008

Stocks soared Friday as Wall Street rebounded from the sharp losses suffered in the previous session — the worst since the “Black Monday” market crash in 1987. The Dow Jones Industrial Average closed 1,985 points higher, or 9.4%, at 23,185.62. Friday marked the Dow’s biggest-ever point gain. The S&P 500 climbed 9.2% to 2,711.02 while the Nasdaq Composite surged 9.3% to 7,874.23. The averages posted their biggest one-day gain since October 2008.
Stocks soared Friday as Wall Street rebounded from the sharp losses suffered in the previous session — the worst since the “Black Monday” market crash in 1987.
European stocks closed higher on Friday, but logged major losses for the week as the rapid spread of the coronavirus pandemic continued to dominate investor sentiment. The pan-European Stoxx 600 closed up just shy of 1%, with basic resources higher by 5.3%, autos up 1.5% and utilities up 2.7% as nearly all sectors and major bourses finished firmly in positive territory.
Swiss diagnostics giant Roche announced on Friday that it has received emergency authorization from the U.S. Food and Drug Administration (FDA) for a new coronavirus test. Shares climbed 3.1% on Friday.
Source: CNBC

SERBIA:

Belgrade Stock Exchange: We are protected from dramatic breakdowns of the capital market

The Belgrade Stock Exchange is protected from dramatic breakdowns in the capital market. The director of the Belgrade Stock Exchange, Sinisa Krneta, stated today that, thanks to the lessons learned during the 2008 economic crisis, the institution had implemented a range of preventive, automatically run mechanism, which prevent the occurrence of any dramatic breakdowns in stock exchange trading, as was the case in the stock exchange markets in the region due to coronavirus. We have in-built price amortization mechanisms, which are self-activated and require no human intervention, so that big and sudden disruptions would not happen, such as a drastic drop or growth of the price of shares, which has a negative impact on the operations of the stock exchange – Krneta told Beta. He specified that the Belgrade Stock Exchange had installed an automatic mechanism, which prevents drastic drops or increases in share prices in the course of a day.
Source: Ekapija

We are not giving up on 4% GDP growth in 2020, PM says

The global economy is on a decline but we are not giving up on the planned 4 pct GDP growth in 2020 despite the situation concerning the coronavirus, Serbian PM Ana Brnabic said Friday. "We must not panic but take all measures possible to stabilise our economy as much as possible. Our economy is holding well at the moment and we will be trying to stabilise it," she told Pink TV. The government is trying to mitigate as much as possible the impact of the coronavirus on public health and the economy and to enable the economy to recover more quickly afterwards, she said. The global economy will suffer a GDP decline of at least 0.5 pct and stockmarkets are seeing the biggest plunge since as far back as 1987, she added.
Source: Tanjug

Teva looking for new owner for Zdravlje factory in Leskovac

The pharmaceutical company Teva has announced that, as part of the restructuring of its global production network, it intends to let its new strategic partner run the production operations at the Zdravlje factory in Leskovac. Zdravlje became a member of Teva in 2016 during Actavis' global acquisition. It is one of the most modern factories in the region. Most of what it produces is exported to the world's largest markets. Medicines produced at this factory are included in the therapies of numerous patients in Serbia and the region, as well as patients in around 40 markets worldwide. Zdravlje is one of the largest suppliers of the local pharmaceutical market, but also one of Serbia's largest exporters.
Source: Tanjug