Cinkarna eyeing price hike as purchase of own stock endorsed
Shareholders of chemical company Cinkarna Celje endorsed on Tuesday a proposal from its biggest single owner, insurer Modra Zavarovalnica, that the company buy own stock in the EUR 250-300 price range, which may be an attempt to raise the price of a takeover bid currently at EUR 220 per share.
HIT almost doubles net profit to EUR 5.8m last year
The Nova Gorica-based gaming company HIT generated EUR 176.7m in revenue last year or 6.4% more than in 2016, while almost doubling net profit to EUR 5.8m, according to unaudited results presented by the management on Tuesday.
Nasdaq closes at new record as Netflix jumps; trade worries weigh on broader market; European markets close lower as bank stocks slide; Italy's FTSE MIB down 1%
The Nasdaq composite closed at an all-time high on Tuesday, led by Netflix and Amazon, while the rest of the market struggled for gains amid U.S. trade tensions. The tech-heavy index closed 0.4 percent higher as Amazon and Netflix rose 1.1 percent and 1.9 percent, respectively.
The Dow Jones industrial average fell 13 points, with Merck as the worst-performing stock in the index. The S&P 500 rose just 0.1 percent. The two indexes struggled for gains as Wall Street fretted over tensions between the United States and some of its key trading partners.
Investors also looked at developments between U.S.-China trade negotiations. The Wall Street Journal reported earlier on Tuesday — citing sources — that China would agree to buy nearly $70 billion worth of U.S. agriculture and energy products if the U.S. holds off on implementing tariffs against Chinese goods.
European markets closed lower on Tuesday, dragged down by banking stocks. Banking stocks were the worst performers, with the Royal Bank of Scotland falling to the bottom of the sector. The bank fell more than 5 percent following news that the U.K. government is to sell part of its stake for approximately £2.6 billion ($3.5 billion) — resulting in a loss as it returns the lender back to private ownership after its bailout in 2008.
Meanwhile, the U.K. government said it was willing to give Twenty-First Century Fox a provisional green light to buy Sky if it agreed to sell its Sky News channel. If Fox's bid for Sky were to be approved, that could trigger a bidding war with Comcast. Shares of Sky rose almost 0.3 percent.
AERO: Number of passengers up 11% in May
Belgrade Airport (AERO) reported strong 11% y/y growth in number of passengers for May 2018. This solid increase arrived on the back of „Final four“, basketball tournament, when 100,000 of passengers was transported only in 6 days. In the first five months, number of passengers was up 7%, to 1.92m, the same statement says.
Source: AERO, Ilirika
Duboka water plant opens in Neresnica near Kucevo – Investment worth RSD 120 million
One year after the purchase of Duboka, the company Andjelkovic Al officially opened the new water plant. In the past year, Andjelkovic Al took all the necessary measures for raising the level of efficiency and effectiveness of the Duboka water plant and carried out preparations for successful and safe operations. Andjelkovic Al invested around RSD 120 million in securing top quality equipment and the latest water-filling technology. Duboka was previosly owned by NIS (NIIS).
ENHL: Tender for reconstruction of Jajinci-Mala Krsna railway opens – Bids to be sent by July 23
The Infrastructure of the Serbian Railways has placed a tender for the reconstruction of another regional railway, on the Jajinci-Mala Krsna section. As the company's director said during the visit to the Pozarevac-Majdanpek railway, the total value of these works amounts to EUR 50 million. The invitation for the submission of bids for the carrying out of reconstruction works on the section Strazevica tunnel (entrance)-Jajinci-Mala Krsna and the Mala Krsna station on the railway (Belgrade) Rakovica-Rasputnica K1-Mala Krsna-Velika Plana, was published on June 1, 2018, on the website of the European Bank for Reconstruction and Development (EBRD).