First phase of NLB privatisation completed
Slovenia completed the first phase of privatisation of NLB, the country's largest lender, as it sold 59% of the bank in an initial public offering, with the option of extending the offer to 65%. The price was at the lower end of the range, EUR 51.5 per share, a boon to investors but also a cause of political criticism.
Analysts unsurprised by NLB pricing
Financial analysts are not surprised by Slovenia's largest bank, NLB, fetching EUR 51.50 per share in the initial public offering, the bottom of the offering price range, given the moment at which the bank is being sold and the situation on capital markets.
Dow drops 200 points on worries about slowing global economic growth; European stocks close lower after Fed meeting; Italy's Tria unflinching on 2019 budget
Stocks fell on Friday as further losses in oil prices sparked fears of a global economic slowdown, but the major indexes still managed solid weekly gains. The Dow Jones Industrial Average fell 201.92 points to 25,989.30 as losses in Caterpillar and Goldman Sachs offset gains from Disney. The S&P 500 dropped 0.9 percent to 2,781.01, led lower by consumer discretionary shares and tech. The Nasdaq Composite lagged, dropping 1.7 percent to 7,406.90 as shares of Facebook, Amazon, Netflix and Alphabet all traded lower. Disappointing data out of China also dampened sentiment on Wall Street. The country's top auto industry association said sales in China fell 11.7 percent last month, marking the fourth straight monthly decline. The Shanghai Composite fell 1.4 percent overnight. Caterpillar shares dropped 3.4 percent in the U.S. while General Motors' stock fell 2.4 percent. European equities closed lower on the final trading day of the week as investors reacted to comments from the Federal Reserve and monitored continental political developments. The pan-European Stoxx 600 closed provisionally 0.42 percent lower with most major bourses seen in the red.the latest monetary policy decision from the Federal Reserve. Banking stocks were also lower, falling 1.17 percent. One standout stock in the sector, UBS, saw its share price drop 2.65 percent after the U.S. Justice Department filed a suit against the bank for investors' losses linked to mortgage-linked securities prior to the financial crisis. The German group Thyssenkrupp dropped 9.21 percent after cutting its profit outlook for the second time this year.
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