SLOVENIA

Abanka's net profit down 20% to EUR 42.5m in first nine months

Abanka, Slovenia's third largest bank which was privatised in June, generated a net profit of EUR 42.5 million in the first nine months of 2019, a 20% year-on-year decrease. In the low interest rate environment, net interest income totalled EUR 45 million, which is on a par with last year's nine-month result. (STA)

Pahor wants Ntl Security Council session over intel agency dispute

President Borut Pahor has called on the prime minister to convene a session of the National Security Council due to the latest tensions between intelligence and security agency SOVA and the parliamentary body which conducts civilian oversight of the agency. Šarec responded by saying the proposal was worth considering. (STA)

INTERNATIONAL MARKETS

Stocks rise to another record as Best Buy leads retailers higher; European markets close higher amid trade optimism

Stocks rose slightly on Tuesday as retail shares outperformed, lifting the major averages to fresh record highs. The Dow Jones Industrial Average was up 55.14 points, or 0.2% at 28,121.68. The S&P 500 gained 0.2% to 3,140.50. The Nasdaq Composite also advanced 0.2% to 8,647.93.
Retailers rose broadly after Best Buy posted quarterly earnings that beat analyst expectations, sending its stock up more than 9%. The electronics retailer also raised its fiscal 2020 earnings forecast. Dick’s Sporting Goods also rallied more than 18% on better-than-expected earnings.
European markets closed higher on Tuesday as investor sentiment toward the Sino-U.S. trade conflict remained optimistic. The pan-European Stoxx 600 was 0.2% higher at the closing bell, with construction and material stocks leading gains on a 1% rise while travel and leisure stocks shed 2%.
In corporate news, U.K. food delivery firm Just Eat urged its shareholders to reject a $6.3 billion takeover offer from Prosus, saying a separate proposal from Takeaway.com was a better fit for the firm. Takeaway shares traded 0.5% lower while Just Eat hovered just below the flatline. (CNBC)

KMBN: Ministry confirms gov't purchase of 34.58 pct stake in Komercijalna banka

The Serbian Ministry of Finance on Tuesday confirmed the government of Serbia had purchased a 34.58 pct stake in Komercijalna banka from the European Bank for Reconstruction and Development (EBRD) and the International Finance Corporation (IFC) Capitalisation Fund. The two international financial institutions combined had 34.58 pct of Komercijalna banka ad Beograd common stocks. Under the terms and at a price defined by a 2009 shareholder agreement, the shares were purchased for 217 mln euros. The transaction successfully completes a consolidation of the ownership structure in Komercijalna banka, enabling the Republic of Serbia to offer 83.23 pct of common stocks to a potential buyer in line with the privatisation process that is underway, the ministry said. (Tanjug)

Serbia is Germany's most important partner in the Western Balkans – Foreign trade between the two countries to exceed EUR 5 billion

Serbia is Germany's most important partner in the Western Balkans. The foreign trade of Germany and the Western Balkans amounted to EUR 11.25 billion in 2018, of which the trade with Serbia accounts for as much as EUR 4.7 billion. German companies currently employ around 90,000 people in the Western Balkans, and, in Serbia, 60,000 jobs in 400 companies are secured through German investments, it was said at the “Western Balkans and German Economy” conference, held in Belgrade. The topics at the conference were investments, supply initiatives and mobility. (Ekapija)

Back to news