Dow closes nearly 300 points higher after late-day surge, banks jump; European stocks close higher despite fears over rising virus cases; Wirecard files for insolvency; BELEX15 down 0.27%; Belgrade Airport reports 1Q20 number only related to concession fee
Stocks ended a volatile session Thursday with solid gains as investors cheered regulation rollbacks for the big banks. The Dow Jones Industrial Average closed 299.66 points higher, or 1.2%, at 25,745.60. The S&P 500 ended the day up 1.1% at 3,083.76. The Nasdaq Composite also advanced 1.1% to 10,017.
An additional 1.48 million Americans filed for unemployment benefits last week, the Labor Department said. Economists polled by Dow Jones expected a print of 1.35 million. The Federal Deposit Insurance Commission said it would allow banks to more easily make large investments into funds such as venture capital funds. Bank of America, JPMorgan Chase, Citigroup and Wells Fargo all rose more than 3%. Goldman Sachs also gained 4.6% while Morgan Stanley advanced 3.9%.

European stocks closed higher on Thursday despite concerns over a global economic downturn and record spike in coronavirus cases in the U.S. The pan-European Stoxx 600 closed up by 0.9% provisionally, with auto stocks leading the gains as most sectors and major bourses finished in positive territory.
Embattled German payments company Wirecard announced Thursday morning that it had filed for insolvency with a Munich district court, following revelations that $2.1 billion had gone missing from its balance sheet. The company’s shares plunged by a further 71%.
Lufthansa shares climbed 7% after major shareholder Heinz Hermann Thiele decided to back the airline’s 9 billion euro ($10.1 billion) bailout from the German government, reversing his earlier opposition.

Serbian BELEX15 was down 0.27% as NIS lost 0.86%. This was the most traded name at the same time as it generated almost the entire volume on the market. Belgrade Airport reported 1Q20 numbers but for the first time these were fully useless as it is only about concession income and other non-core income. The company scheduled its AGM for 28th July.
The biggest ecological project in Serbia, the construction of flue-gas desulfurization systems at thermal power plant Nikola Tesla A in Obrenovac is in progress, Elektroprivreda Srbije (EPS) acting General Manager Milorad Grcic during his visit to the facility. The contract for TENT A desulfurization system was signed back in 2017, the works are now picking up and we expect to open the facility for work in May 2023, he added. Jedinstvo Sevojno is a major domestic contractor at this project.
Source: CNBC, Ilirika