SBITOP index gained 1.18% after days of correction
SBITOP index gained 1.18% after days of correction and ended the trading day at 817,49 points. The biggest gainers were stocks of Intereuropa (+4.12%), Luka Koper (+3.28%), Telekom Slovenije (+2.58%) and Krka (+57.6%).
The European Commission has again improved the economic outlook for Slovenia
In the winter economic forecasts, the European Commission has again improved the economic outlook for Slovenia. Last year's economic growth in Slovenia was 4.9%, according to the new Brussels estimation, this year it is 4.2% and next year 3.5%. The winter forecast for all three years is by 0.2 percentage point better than it was in the autumn.
State asset management stays as it is
The government concluded that the strategy for managing capital investments of the state, which the National Assembly adopted by decree in July 2015, is still relevant in the current circumstances, and therefore the decree on the strategy does not need to be amended. Last year, the Slovenian State Holding Company (SDH) and the Kapitalska družba (Kad) proposed some changes to the strategy.
Slovenia: Annual price growth in January 2018 was 1.5 percent, at monthly level deflation (-0.8%)
In January 2018, at the annual level, the inflation rate was 1.5 percent, which was mostly contributed by more expensive foods. At the monthly level, Slovenia had deflation (-0.8%).
European markets in the green
The pan-European Stoxx 600 gained 2.06 percent, with all industries and markets in the green. Energy sector was one of the best performers, gaining more than 2.43 percent during corporate earnings news. Statoil announced very good results. Statoil's shares closed up at 4.61 percent gain.
With good economic forecasts, Brussels calls for reforms
The European economy is growing beyond expectations, and solid growth is expected to continue next year, the European Commission notes in the winter economic forecast. Now is the time for reforms in the euro area, Brussels says, and points out the risks of the uncertain outcome of the negotiations on Brexit, geopolitical tensions and protectionist policies.
US slightly red Wednesday markets with higher volatility and remaining bullish expectations for the near future
American markets dropped slightly on Wednesday due to the slip in tech and energy stocks. We are experiencing a higher volatility in the markets in recent past two weeks as compared to previous longer-term period. Expectation remain bullish with possible slower and more volatile growth for the near future. The Dow Jones Industrial Average (DJI) gained 57.59 points, or 0.23 percent, to 24,970.36, the S&P 500 (SPX) lost 3.55 points, or 0.13 percent, to 2,691.59 and the Nasdaq Composite (IXIC) dropped 45.63 points, or 0.64 percent, to 7,070.25.
Tesla and Twenty-First Century Fox top Wall Street expectations
In the corporate world, Twenty-First Century Fox reported after market earnings and revenue that topped Wall Street expectation. As well, Tesla reported quarterly earnings and revenue that also beat Street’s expectations on Wednesday.
Fiat to decide on new model to be produced at Kragujevac plant on June 1
Fiat Chrysler should soon launch a successor to Grande Punto, which might be produced in Kragujevac as well, Blic reports. Sergio Marchionne, President of FCA, said that Fiat would announce the decision on the new model to be produced in Kragujevac on June 1, when the company should reveal its five-year business plan. The new business plan, which encompasses the period from 2018 to 2022, will be made public officially on the anniversary of Marchionne's appointment in 2004. As Marchionne himself announced, the plan will be presented in Balocco, a town near Turin where the Italian-American company's road-testing track is located. The plan, Blic reports, should define whether Kragujevac will still be producing Fiat 500L only or if the Kragujevac plant is to get another model.
Zelezara Smederevo biggest exporter from Serbia in January 2018
The value of the export of the 15 biggest exporters in Serbia in January 2018 amounted to EUR 347.5 million, and the biggest exporter is HBIS Group, owner of Zelezara Smederevo, with exports worth EUR 70.4 million, the Ministry of Finance announced on Tuesday, February 6, 2018. Fiat Chrysler Automobiles (FCA) Serbia, the former biggest exporter, is in the second place with exports worth EUR 64.1 million. Tigar Tyres Pirot takes the third spot with exports worth EUR 30.5 million, followed by Naftna Industrija Srbije with EUR 28 million, Petrohemija (EUR 21.1 million), Robert Bosch (EUR 17.9 million), Tetra Pak (EUR 16 million), Hemofarm (EUR 14.2 million), Yura Korporacija Raca (EUR 13.9 million) and Leoni Prokuplje (EUR 13.3 million).
Agreement with Mytilineos reached – Serbia to pay USD 40m in four installments by December 2018
On Tuesday, February 6, 2018, representatives of the Greek company Mytilineos signed the final agreement on the settlement with the Government of Serbia in the amount of USD 40 million, the sum defined by the International Court of Arbitration, related to the debt of RTB Bor. According to the press release by the Greek company, the agreement was signed by Minister of Economy Goran Knezevic and Ministry of Mining and Energy Aleksandar Antic on behalf of the Serbian party. The Serbian government proposed for the compensation to be paid in four installments without an interest, with the final one due in December 2018, which Mytilineos agreed to.