SLOVENIA
SBITOP up addition 0.77% on Friday
After sold boost form Thursday, initiated with jump at Gorenje, SBITOP was up additional 0.77% on Friday, led by gains at Telekom Slovenija (+3.32%) and SavaRe (+2.29%). The most trade name was Gorenej with EUR 1.8m in volume, while daily looser was Mercator since it was down 10%.
Source: LJSE, Ilirika
INTERNATIONAL MARKETS
Week Ahead
Next week the US will publish retail trade, industrial production, building permits and housing starts. Elsewhere, important releases include: UK wages and unemployment rate; Germany GDP growth; Japan GDP growth and inflation; China retail trade, industrial production and fixed asset investment; and Australia employment.
Source: TRADING ECONOMICS
SERBIA
Komercijalna Banka (KMBN) reported RSD 1.9bn
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. The result is up 16.5% q/q. Net interest income arrived RSD 3.1bn down 4.8% y/y and 1.6% q/q, 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. The bank’s GA, which took place on 26th April, approved decision on profit distribution from 2017 result and retained earnings – the bank is about to pay out RSD 2.52bn (31% of net profit) or RSD 150 per share, which gives solid 8.2% yield. Record date was 16th April .
NIIS: Serbian Oil Industry searching for oil at new locations – Zabalj and Zrenjanin
The Serbian Oil Industry (NIIS) is set to start exploring for possible oil and natural gas reserves in Vojvodina around the towns of Zrenjanin and Zabalj, a NIS official told reporters. Dusan Brstina of the NIS science sector said seismic exploration would cover an area of 720 square kilometres. NIS experts will be exploring around the towns of Zrenjanin, Zabalj, Vrbas, Novi Sad, Backi Petrovac, Temerin and Titel, he said.
Source: N1
NBS: FX reserves in April at EUR 10.4bn
NBS FX reserves stood at EUR 10.4bn at end-April, up by EUR 194.4m from end-March, ensuring the coverage of 189% of money supply (M1) or more than five months’ worth of the country’s imports of goods and services (almost twice the level prescribed by the standard on the adequate level of coverage of the imports of goods and services by FX reserves). It is important to note that FX reserves rose in an environment of the government’s early debt repayment to London Club creditors (outflow of EUR 130.9 mn) and net debt repayment in respect of FX securities issued in the domestic financial market (outflow of EUR 24.4 mn). The main factor contributing to the increase was the inflow from NBS interventions in the domestic FX market (purchase of EUR 215.0 mn).
Source: NBS
SORS: Serbia's annual inflation slows to 1.1% in April
Serbia's average annual consumer price inflation slowed to 1.1% in April from 1.4% in March, the national statistical office said on Friday. On a monthly comparison basis, Serbia's consumer price index (CPI) rose by 0.4% in April, after increasing by 0.1% in March, the statistical office said in a monthly inflation report. Prices of clothing and footwear rose 2.1% month-on-month in April, while food and non-alcoholic beverages went up 0.7%. Prices of transport added 0.6%, of communications 0.3%, and furniture 0.2%. Prices in the sectors of alcoholic beverages and tobacco, and recreation and culture fell by 0.1% each in April. The country's annual consumer price inflation quickened to 3.0% in 2017 from 1.2% in 2016.
Source: SORS, SeeNews
