SLOVENIA
Alfi acquires more than 80% of grocer Tuš's debt
Alfi, a Slovenian equity fund, has acquired over 80% of the debt owed by Tuš, one of the largest grocers in Slovenia, which it will convert into equity, the newspaper Delo reports. (STA)
INTERNATIONAL MARKETS
Dow drops 200 points as Big Tech falters, Apple falls more than 1%; European stocks close higher as investors monitor U.S. stimulus hopes, coronavirus cases; BELEX15 up 0.5%; Ratification of Serbia’s new agreement with the Eurasian Economic Union approved
Stocks fell on Tuesday as tech shares were under pressure and lawmakers continued their debate over the next coronavirus relief package. The Dow Jones Industrial Average closed 205.49 points lower, or 0.8%, at 26,379.28. The Nasdaq Composite dropped 1.3% to 10,402.09 and the S&P 500 dipped 0.6% to close at 3,218.44.
Shares of Amazon slipped 1.8% and Netflix declined by 1.4%. Alphabet shares fell 1.7%. Facebook shares dipped 1.5% and Apple closed 1.6% lower.
McDonald’s shares slid 2.5% after the fast-food giant posted a quarterly profit that missed analyst expectations along with a 30% drop in overall revenue. 3M, another Dow component, dropped 4.8% after its quarterly earnings and revenue were lower than expected.
European stocks closed higher Tuesday as signs of progress on fresh U.S. government stimulus efforts seemingly outweighed concerns about a burgeoning coronavirus resurgence worldwide. The pan-European Stoxx 600 closed up nearly 0.5%, with food and beverage stocks climbing almost 1.4% to lead gains while basic resources declined 0.6%.
At the other end of the European blue chip index, LVMH dropped 4% after reporting an underwhelming set of second-quarter earnings late on Monday.
Serbian BELEX15was up 0.5%, as Komercijana Banka added 2.1%. NIS was the most active name with RSD 3.4m in volume. The company is about to report its 2Q/6M numbers today.
Russia’s government has approved ratification of a free trade zone agreement between the Eurasian Economic Union (EAEU) and Serbia, according to a statement released on the cabinet’s website on Saturday. Serbia signed the agreement on the creation of a duty-free trade zone with the EAEU in October 2019. The agreement is to be ratified by all member-states of the Union. (CNBC, ILIRIKA)
