SBITOP moved down by 0.82 percent
At very low levels of trade the SBITOP index lost 0.82 percent yesterday. Stocks that moved the index down the most were sotcks of Krka (-2.96%) and Zavatovalnica Triglav (-1.57%), while Luka Koper (0.98%) gained the most.
GDP up by 6.0 percent in the fourth quarter of 2017 and by 5.0 percent in 2017
In the fourth quarter of 2017 gross domestic product (GDP) increased by 6.0 percent over the fourth quarter of 2016. According to the first estimate, in 2017 GDP increased by 5.0 percent.
US markets in the red
US markets were in the red yesterday after President Donald Trump said he would impose tariffs on imports of steel and aluminum, causing concern about protectionist trade policies that could have a negative impact on US corporations and consumers. The news of trade tariffs came after the market was already following the second round of the testimony of FED President Jerome Powell.
EU clears merger of Essilor and Luxottica
The European Commission on Thursday approved the 48-billion-euro ($58.49 billion) merger of eyewear groups Luxottica (LUX.MI) and Essilor (ESSI.PA) without setting conditions, saying the merger would not harm competition.
NIIS: NIS reported RSD 27bn in FY 2017 net profit, up 80% y/y
NIS (NIIS), integrated oil&gas company, reported RSD 27bn in its FY 2017 net profit, up 80% y/y, which is in line with expectations. At the same time, the company’s EBITDA arrived at RSD 47bn up 18% y/y. Improved financial performances emerged on the back of higher crude oil price, higher processing volume and implemented cost control measures. The company’s sales in the period arrived at RSD 234.7bn, up 22% y/y, while OCF was up 43% y/y to RSD 59bn. The result opens the room for higher cash dividend in this year, probably in the amount of RSD 41 per share, which now gives solid 5.8% gross yield.
Source: NIIS, Ilirika
Dialogue between Belgrade authorities and IMF on future goals to begin in mid-March
The dialogue between the International Monetary Fund (IMF) and the authorities in Belgrade on the aims and priorities for the next several years should begin in mid-March, James Roaf, Head of the IMF Mission for Serbia, announced and added that, after the successful three-year program with the financial institution, Serbia needed to turn to new challenges. Commenting on the results of Serbia's program with the IMF, which ended on February 22, he pointed out that financial discipline had been maintained throughout the program, that the budget deficit of nearly 7% of the GDP from 2014 had been turned into a surplus of 1%, along with a much earlier and quicker than expected reduction of the public debt.
German carmaking giant to make big investment in Serbia?
There will be large-scale new employment in central Serbia, President Aleksandar Vucic has told Happy TV. Vucic in this way commented on his previous statement, when he announced the arrival of a big German investor to Serbia. The announcement that a German carmaking giant would invest in Serbia has become major news in the region, accompanied by guesswork on social networks and in the media about which Serbian town might "hit the jackpot." Vucic previously said that he "cannot talk about it, because that's what's been agreed with the investor" - and that he would be happy to announce the news "once everything is completely clear."