SLOVENIA
NLB sees 9-month group net profit fall 14% to EUR 158m
NLB bank posted a group net profit of EUR 158.3m for the first nine months of 2018. While current operations improved, the headline figure is 14% lower than in the same period last year, mostly due to the cancellation of provisions in 2017 that strongly affected profits last year, the bank said on Friday.
Source: SURS
Serbian businessman thwarts state's plans for hotel chain
It appears that Serbian businessman Miodrag Kostić, who has recently acquired Gorenjska Banka, has plans for investing in Slovenian tourism that run contrary to the state's consolidation strategy. In a recent turn of events, he has disrupted the state's plans to become the sole owner of the Hoteli Bernardin hotel chain.
Source: STA
MK interested to acquire Slovenian Sava
MK Group is interested to acquire 41.7% of Slovenian tourism company Sava, portal Siol.net reported. This stake is now owned by US fund York, while majority owner of the company is Slovenian state since it controls 45%. Sava, owns several tourist resorts, such Terme 3000, hotels at Bled, Terme Ptuj, Bernardin hotels.
Source: Ekapija,Ilirika
INTERNATIONAL MARKETS
Dow ends volatile November with more than 150-point rally on hopes of a US-China trade deal at G-20; European markets mixed as focus turns to the G-20 summit; Deutsche Bank down 3%
Stocks closed a volatile month with strong gains on Friday on renewed bets the U.S. and China could strike a deal on trade. The Dow Jones Industrial Average rose 199.62 points to close at 25,538.46. The S&P 500 and Nasdaq Composite both gained 0.8 percent to close at 2,760.17 and 7,330.54, respectively. Stocks wobbled for most of the session until Reuters reported that a Chinese official said ""consensus is steadily increasing"" in U.S.-China trade talks. The official added, according to the report, that differences between the two countries remained. Shares of World Wrestling Entertainment closed 2.6 percent higher after J.P. Morgan Chase upgraded them to overweight from netural, noting the company's valuation is attractive compared to industry peers. European stocks have ticked up on average at the end of the week, as key leaders congregated for a major event in Argentina. By mid-afternoon the pan-European Stoxx 600 was two tenths of one percent higher with the different sectors struggling to make clear gains. Autos and basic resources fell the most as investors focused on the upcoming trade talks at the G-20 summit, in Buenos Aires on Friday. Investors are paying special attention to a meeting between President Donald Trump and China's President Xi Jinping. Shares of Deutsche Bank traded below the flatline once again, slipping 3 percent. The stock remains under pressure as police raids at its offices continue. On Thursday, German police raided Deutsche Bank's headquarters in Frankfurt during an investigation of alleged money laundering.
Source: CNBC
SERBIA
NBS: Serbian GDP up 3.8% in 3Q
Based on SORS data, real GDP growth in the period January–September 2018 measured 3.8%. On the production side, growth was sustained across all sectors. The fastest growth was recorded in construction and agriculture, whereas in services, brisk pace was registered in trade, transport, tourism, catering and information and communications. Favorable movements were also seen in manufacturing. On the expenditure side, GDP growth was led primarily by the robust increase in investment and favorable labor market developments underpinning sustainable growth in final consumption.
Source: NBS, SORS
NBS: Industrial output in 10 months, up 2.4% y/y, Unemployment in 3Q at 11.3%
In October, industrial production rose 3.2% y-o-y, driven by the rise in manufacturing. Three-quarters of manufacturing branches recorded an increase, the greatest positive contribution coming from base metals. In the period January– October, y-o-y growth of total industry reached 2.4%, аnd of manufacturing – 2.9%. According to the Labour Force Survey, the unemployment rate equalled 11.3% in Q3 2018, which is its lowest level since comparable data are available. At the same time, employment reached 49.2%.
Source: NBS, SORS
Serbian import keeps growing faster the export
As for foreign trade, SORS data indicate that in the January–October period, the export of goods increased 8.3% y-o-y as a result of diversified growth of manufacturing exports. At the same time, import rose 13.7%, primarily in response to the increase in the import of investment equipment and intermediate goods for the industry. Trade deficit for the period amounted to EUR 4.4bn, up 33.9% y/y.
Source: NBS
