Daily News - 10.05.2018
Published: 10. 05. 2018


SBITOP up 0.41% - Gorenje share closes almost 7% higher

The SBI TOP index of blue chips on the Ljubljana Stock Exchange closed 0.45% higher at 847.50 points on Wednesday. Gorenje was the winning share gaining 6.58% to EUR 6.80 on EUR 165,140 in volumes on the back of news that three Chinese giants sought to close a strategic partnership with the Slovenian household appliances manufacturer.
Source: STA

Gorenje picks China's Hisense represented by ILIRIKA as strategic partner

Household appliance group Gorenje chose a strategic partner on Wednesday after receiving three binding bids the day before. The management announced it had chosen Chinese group Hisense, which offered EUR 12 per share. Based on the number of existing shares in late March, the deal will exceed EUR 146.5m for 50% plus one share.

Survey shows Slovenia still attractive to Austrian investors

Slovenia remains an attractive destination for Austrian investors, shows this year's survey of the representation of the Austrian economy in Slovenia, Advantage Austria Ljubljana. Austrian companies in Slovenia are happy with employees and suppliers
Source: STA

Central bank with almost EUR 71m in surplus last year

Banka Slovenije generated EUR 70.7m in surplus last year, which is almost a quarter more than in 2016. As required by law, the central bank will transfer 25% of the amount or 17.7m to the state budget.
Source: STA


We are in bullish trend

We are in bullish trends on basis of the growth in strength of the dollar, very good earings season on both sides of atlantic and positive macro data as well as still favorable ECB monetary policy for growth in asset prices for Europe due to the low level of inflation in Europe this year. However, as far as asset prices in Europe are concerned, we still need to come to the levels of January of this year in European markets. The main deciding point for the next 3 – 5 month period could be the 1 of June of 2018 when the continuation of negotiations on tariffs on the relation between EU and US should be set! In the last month period DAX index gained 7 percent, while SP500 and Dow Jones gained 5.91 and 5.57 percent!

China Inflation Rate at 3-Month Low of 1.8% in April

China's consumer prices rose by 1.8% yoy in April 2018, after a 2.1% gain in March, slightly below market consensus of 1.9%. It was the lowest inflation rate since January, mainly due to a sharp slowdown in cost of food.
Source: TA


KMBN: Komercijalna reported RSD 1.9bn in 1Q18 net profit, down 20% y/y

Komercijalna Banka (KMBN) reported RSD 1.9bn in its 1Q18 net profit, down 20% y/y, due to the fact that position other revenues was far lower versus a year ago. Net interest income arrived RSD 3.1bnm down 4.8% y/y, probably due to drop in interest rates. We saw no any write-offs. Furthermore, RSD 231m was classified as a recovery. Credit activity basically stagnated, while the bank’s asset were down 0.5% YTD.
Source: KMBN, Ilirika

Etihad to cancel plane order – What will happen to Air Serbia?

Etihad Airways, which has a 49% stake in Air Serbia, is planning to cancel the acquisition of new aircraft, or at least substantially change its order from 2013 for as many as 160 planes. This is a scenario that the two major manufacturers of passenger aircraft – Boeing and Airbus – have been preparing for, Reuters reports. Etihad is considering its options for over 160 aircraft it has ordered, ranging from swapping models to delaying deliveries to outright cancellations, the sources told Reuters. A final decision could be based on a combination of the three options, one source said.
Source: Serbiamonitor

RTB Bor becomes a consolidated company

Following the merger between RTB Bor and the four dependent companies that operate under it, the mining giant will become a single, consolidated company. The decision on the status change was made by the Company’s Assembly, as this step is devised in the Pre-arranged Reorganization Plan (UPPR). All current employees of RTB will keep their jobs. The government says that the company’s consolidation is a step closer to finding a strategic partner that will be done via a public tender. Copper Mines ‘Bor’ and ‘Majdanpek’, smelter and refining facilities are now merged with the parent company – Mining and Smelting Basin (RTB). They share the same assets, will have one consolidated bank and expect this to result in significant savings.
Source: Serbiamonitor

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