Daily Report 01.09.2020
Објавено: 01. 09. 2020

Dow closes more than 200 points lower but still notches best August since 1984; European stocks close lower but finish up 2.8% for the month; Suez soars 18%; BELEX15 was flat; Metalac reported light drop in sales&22% lower consolidated net profit; Serbian GDP down 6.4% in 2Q2020 
Stocks were mixed on Monday as the S&P 500 and Dow Jones Industrial Average wrapped up their best August performances since the 1980s. The Dow slid 223.82 points, or 0.8%, to 28,430.05 and the S&P 500 dipped 0.2% to close at 3,500.31. The Nasdaq Composite outperformed with a 0.7% gain and ended the day at 11,775.46. Declines in bank stocks pressured both the Dow and S&P 500. JPMorgan Chase, Citigroup, Bank of America and Wells Fargo were all down more than 2%, following Treasury yields lower. Yields fell after Federal Reserve Vice Chairman Richard Clarida said rates. 
Meanwhile, the Nasdaq got a lift after two big stock splits took effect Monday. Apple shares gained 3.4% as a 4-for-1 split took effect. Tesla shares added 12.6% following its 5-for-1 split. 


European stocks closed lower Monday, despite a strong start to the session, as traders digested corporate news and dovish U.S. monetary policy signals. Most major European bourses finished in negative territory, but clocked gains of 2.8% for the month of August, according to Reuters data. In the U.K., markets were closed Monday due to a public holiday. 
In corporate news, Swiss food and drink giant Nestle said it was buying U.S. peanut allergy treatment maker Aimmune Therapeutics, bolstering its health science portfolio. Nestle shares closed marginally lower on Monday. 
Shares of the French utility Suez soared 18% after Veolia offered to buy a stake in the company, which was seen as possibly leading to a full takeover. 


BELEX15 ended Monday’s season flat as basically there were no major changes among index members. The most active name was NIS as it generated RSD 4.6m in volume. Metalac reported its consolidated 6M 2020 numbers, which are mainly good if we consider shut down from March-April. Namely, the company reported only 3.3% drop in sales with flat operating result. Net profit was down 22% but this was due to worsen financial and other result. The stock was flat. 
According to the SORS, real GDP contracted by 6.4% y-o-y in Q2, which is better than the preliminary estimate (6.5%). 
Source: CNBC, Ilirika