SLOVENIA
Slovenia happy with hearing in ECB archives case
The grand chamber of the European Court of Justice (ECJ) held a hearing in a suit the European Commission has brought against Slovenia for accessing ECB documents as part of a police investigation at Slovenia's central bank regarding Slovenia's 2013 bank bailout. Slovenia's agent labelled the hearing "very positive" for the country. (STA)
Companies expect a 17% drop in revenue on average this year
A survey carried out by the Chamber of Commerce and Industry (GZS) shows that Slovenian companies expect to generate lower revenue this year at an average rate of 17%, and that more than half of them believe their exports will also decline. (STA)
Telekom Slovenije gets new management board member
The supervisory board of Telekom Slovenije has appointed Tomaž Jontes as the new member of the telecoms incumbent's management board for commercial affairs for a four-year term. (STA)
INTERNATIONAL MARKETS
Dow jumps 150 points, Apple leads Nasdaq to record close; European markets close lower after U.S. coronavirus surge; Wirecard down another 44%; Revision of the IMF agreement scheduled this week
Stocks rose on Monday, building on solid gains from last week, as shares of major tech companies led the way higher on Wall Street. The Dow Jones Industrial Average gained 153.50 points, or 0.6%, to close at 26,024.96. The Nasdaq Composite posted a record closing high, advancing 1.1% to 10,056.47. The S&P 500 ended the session up 0.7% at 3,117.86.
Apple shares jumped more than 2% and hit a record high after the company made a slew of announcement at its annual WorldWide Developers Conference. The tech giant unveiled the latest version of iOS, its mobile operating system. Apple also said its new Mac computers will no longer use Intel chips. Microsoft climbed more than 2% to lead the Dow higher. Amazon advanced 1.5%. Netflix gained 2.6%. Facebook eked out a small gain.
European stocks closed lower on Monday as investors reacted to a surge in coronavirus cases in the U.S., and growing concerns over a rise in infections in Germany. The pan-European Stoxx 600 ended down 0.7%, with almost all sectors in negative territory.
Shares of Germany’s Wirecard continued to nosedive on Monday morning, falling a further 44% after the payments company said on Monday that the $2.1 billion missing from its accounts probably does not exist.
Lufthansa shares ended 3% lower amid a battle with billionaire shareholder Heinz Hermann Thiele, who is objecting to the airline’s impending 9 billion euro ($10.1 billion) state bailout package.
BELEX15 is finally at a positive territory after seven days of bearish trend. The gain is rather symbolic at 0.25% as Tehnogas and Belgrade Airport were up 1.5% and 1.1%, respectively while NIS lost 0.5%. Belgrade Airport is about to deliver its 1Q20 number son Thursday, 25th June. These will be probably worse vs. a year ago as all flights were canceled during the second half of March.
The Minister of Finance, Sinisa Mali, announced that the revision of the current IMF agreement with Serbia is to be held this week .The main discussion topics will be the execution of economic recovery measures to reduce to Covid-19 pandemic effects and Serbia 2025 investment programme. The revision of the agreement and meetings with the IMF will be conducted online. We will look into the state budget and go over the means we used to employ economic measures during the coronavirus pandemic, Mali told Prva TV. (CNBC, ILIRIKA)
