Daily News - 04.05.2018
Published: 04. 05. 2018

SLOVENIA

SBITOP down 0.23%

After two non-working days, SBITOP was down today by 0.23%. Almost all names from first quotation were in red, apart from Krka, which was up 0.35%. Top looser was Gorenje since it lost 1.87%
Source: LJSE, ilriika

EU Commission upgrades Slovenia's GDP growth forecast for 2018 to 4.7%

The European Commission has further upgraded Slovenia's growth outlook in its spring forecast, by 0.5 points to 4.7% for this year. In 2019, the country's GDP is to expand by 3.6%, up 0.1 point from the February forecast. Both figures are significantly above the eurozone average.
Source: STA

Gorenjska Banka takeover on back burner

The takeover of Gorenjska Banka by AIK bank appears to be an increasingly distant prospect, as the prospective buyer from Serbia has failed to deliver the requisite permits to buy the stake held by the biggest shareholder, Sava.
Source:STA

INTERNATIONAL MARKETS

China Services Growth Beats Estimates in April

The Caixin China General Services PMI rose to 52.9 in April 2018 from a four-month low of 52.3 in March, above consensus of 52.2. New orders went up faster, employment continued to grow and sentiment improved.
Source: TA

Buffett buys another 75 75 million shares of Apple

Berkshire Hathaway Inc. has bought another 75 million shares of Apple Inc., CNBC cited Chairman Warren Buffett as saying. That would make Berkshire, which has accumulated Apple stock steadily since 2016, the No. 3 holder of the world’s most valuable corporation, according to data compiled by Bloomberg. Buffett’s investment is a vote of confidence for Apple, whose stock has swooned on concerns about lackluster demand for its flagship iPhone X but this week reported better than expected earnings.
Source: Bloomberg

SERBIA

ENHL: Energoprojekt’s consolidated net profit down over 50% in 2017, on FX losses

Energoprojekt (ENHL) reported its FY 2017 consolidated financial statements, where we see drop in net profit for over 50% y/y, to RSD 524m, due to appearance of financial loss, which was triggered by huge negative FX result. The company’s sales stagnated at RSD 32.9bn, probably due to RSD appreciation, while operating profit was up 43%, to RSD 1bn, on the back of positive change in inventories.
Source: Belex, Ilirika

EC maintains Serbian GDP forecast for 2017 at 3.3%

The European Commission (EC) said it has maintained its forecast for Serbia’s economic growth in 2018 at 3.3%, backed by domestic demand and investment activity. Gross domestic product (GDP) growth is expected to accelerate to 3.5% in 2019 as the unemployment rate is foreseen to decline to 10% next year from 12.1% in 2018, the Commission said in its Spring 2018 Economic Forecast published on its website on Wednesday.
Source: SeeNews

AERO: Etihad Cargo launches flights to Belgrade

The cargo division of Etihad Airways, Etihad Cargo, has launched flights from the Abu Dhabi and East Midlands airports to Belgrade, EX-YU Aviation News reports. Route will be operated by Boeing 777-200F, which has a net capacity of 100 tons. A total of 4,791,712 kilograms of cargo passed through the Belgrade Nikola Tesla Airport during the first quarter, which is 29.6% more than in the corresponding period of 2017.
Source: Ekapija