Dow rallies 700 points, retakes 23,000 as market rebound continues; European markets close lower as hopes for imminent coronavirus recovery fade; BELEX15 up 1.9% as Komercijana soared 9.2% with single one share traded; Serbian budget deficit in February at RSD 600m – public debt at 49.1% of GDP.
Stocks surged on Wednesday after Sen. Bernie Sanders dropped out of the presidential race, relieving some of Wall Street’s political concerns amid the economic crisis stemming from the coronavirus. The Dow Jones Industrial Average gained 779.71 points, or 3.4%, to close at 23,433.57. The S&P 500 climbed 3.4% to 2,749.98 while the Nasdaq Composite advanced 2.6% to 8,090.90. Hope the U.S. could start to turn a corner on the coronavirus outbreak in the near future also lifted equities.

European markets closed lower Wednesday as optimism over an imminent recovery from the coronavirus started to fade. The pan-European Stoxx 600 closed down almost 0.2% provisionally, with oil and gas stocks shedding 1.4% to lead losses, while the travel and leisure sector gained 3%.

BELEX15 was up 1.9%, while this was out of importance as it was triggered by 9.2% jump at Komercijana Banka, which was traded with only one single share. NIS was up 0.7% with RSD 1m in volume but almost the entire Wednesday’s volume arrived from Jubmes Banka (RSD 64.1m).

The Serbian Finance Ministry said on Monday that the budget deficit at the end of February stood at 600 million Dinars. The country’s public debt stood at 24.36 billion Dinars at the end of February which is 49.1 percent of this year’s planned GDP, the Finance Ministry said and added that the public debt stood at 48.9 percent of the GDP at the end of January.
Source: CNBC, Ilirika