SBITOP gains 0.51 percent
SBITOP Index closed at 834.67 points on Thursday, gaining 0.51 percent. Best performers were SavaRe (+1.79%), Zavarovalnica Triglav (+0.97%) and Intereuropa (+0.95%), while Mercator and Gorenje lost -2.76% and -0.79% respectively during the trading day.
Economic sentiment in Slovenia remains high
In January economic sentiment in Slovenia remained high. It was 6.2 percentage points higher annually and 0.3 percentage points higher than in December 2017. The sentiment indicator is the weighted average of several confidence indicators, namely, manufacturing, services, consumer confidence, retail trade and construction. Rising confidence in retail trade, manufacturing and consumer confidence had the biggest impact on the recent increase in economic sentiment.
EU and US
ECB not changing its QE
ECB will keep the interest rates on current levels at least until the end of September 2018. ECB will continue, as well, with its net assets purchase program at a pace of €30 billion a month.
Good business results for Caterpillar and 3M
Caterpillar (CAT) posted good results. The company earned $ 2.16 per share on the fourth quarter, up 34.7 percent from a year earlier. In the fourth quarter, 3M (MMM) had $ 2.10 earnings per share, while revenue for the year-on-year period rose 9 percent to $ 7.99 billion.
Tigar Pirot contracts export of 50,000 pairs of footwear to Scandinavia
Tigar Pirot announced on January 24th that it had contracted export of around 50,000 pairs of footwear worth EUR 1.2 million with the company Ilse Jacobsen, the leader in the production of designer clothes and footwear in Scandinavia. As said, there's a possibility for the export of Tigar to that market to increase to 15 to 20% in 2019 and 2020. Tigar should start a test run of rubber sneakers based on the negotiations with the Swedish company Wise Shoes in August 2018, and the product should become available in the fall/winter season in 2018. The Swedish company Shepherd plans to sell rubber sneakers in the amount of up to EUR 2 million in 2018, in which Tigar products should have a considerable share.
Average net salary in December at RSD 54,344 or EUR 460
Average net salary in Serbia for December amounted to RSD 54,344 or EUR 460, Serbian Statistical Office reported. The amount is up 14.2% versus November, in both real and nominal terms. This increase is typical for December given the fact that this month delivers additional payments, bonuses, 13th salary and similar compensations. When comparing with December 2016, the average net salary is higher by 1.7% in nominal terms but lower by 1.3% in real terms.
Source: Beta, Ilirika