SLOVENIA
Nada Drobne Popović named Petrol CEO for full term
Nada Drobne Popović, who shifted from the post of chief supervisor to that of acting CEO of Petrol amid a major controversy in October, was named for a full term as the head of Slovenia's largest energy group on Tuesday. (STA)
NLB requests constitutional review of tight loan restrictions
Bank NLB has asked the Constitutional Court to review tighter restrictions on lending imposed by the central bank in November. After filing the request on Tuesday, the bank expressed belief that its request would be a matter of priority for the court because of the "radical effect" the measures had on the quality of Slovenians' lives. (STA)
Dragonja to step down as state secretary in March
Finance Ministry State Secretary Metod Dragonja is to retire in March, the ministry confirmed for the STA on Tuesday. The business newspaper Finance meanwhile speculates that Dragonja is bowing out mainly due to disagreements over the plans to extend the life of the Bank Assets Management Company (BAMC).
INTERNATIONAL MARKETS
Dow falls more than 100 points amid first US case of coronavirus, big decline in Boeing; European stocks close lower on China virus concerns
Stocks pulled back from record levels on Tuesday after the Centers for Disease Control told Reuters that a traveler from China was diagnosed with the first U.S. case of coronavirus in Seattle. The Dow Jones Industrial Average fell 152.06 points, or 0.5% to 29,196.04 and dropped as much as 201.63 points. The S&P 500 slid 0.3% to 3,320.79 while the Nasdaq Composite dipped 0.2% to 9,370.81. The Dow snapped a five-day winning streak while the S&P 500 and Nasdaq posted their first loss in four sessions.
Boeing shares added to the downturn, falling more than 3% on news the company doesn’t expect regulators to sign off on the beleaguered jet, the 737 Max, until June or July. The shares were briefly halted.
European stock markets traded lower on Tuesday as the World Economic Forum (WEF) got underway in Davos, Switzerland, after concerns over a new strain of pneumonia in China hit risk assets. The pan-European Stoxx 600 pared early losses to trade just 0.19% lower by the closing bell. Basic resources were the worst performing stocks, falling 1.2%, while financial services srocks logged 0.6% gains.
UBS shares fell by 4.5% after the Swiss lender missed its key 2019 profit targets and cut its midterm guidance, while steelmaker Evraz shed 5.7%.
Near the top of the European benchmark, Hugo Boss shares gained 6.8% after the German fashion house reported better-than-expected fourth-quarter sales growth. (CNBC)
