SLOVENIA
Serbian govt unofficially decides to sell bank to NLB
The Serbian government has decided to sell the 83% state stake in the bank Komercijalna Banka to the Slovenian market leader NLB, the local newspaper Blic has reported, citing unofficial information. (STA)
Pahor holds consultations in what is possibly D-day for new coalition
President Borut Pahor will hold the second round of consultations with deputy groups Tuesday to get acquainted with the state of talks on a new ruling coalition and decide on whether to propose a candidate for prime minister by the Friday deadline. (STA)
Coronavirus: Proportionate measures being taken, border closure possible
In the wake of the novel coronavirus COVID-19 spreading in Italy, health authorities in Slovenia say no additional protective measures are needed for healthy population in the country. Prime Minister says proportionate measures will be taken and that Slovenia will close its border with Italy if necessary. (STA)
Coronavirus so far not affecting Slovenian economy
The novel coronavirus COVID-19 outbreak has so far had no profound effect on Slovenia's economy, but problems have arisen in certain areas. Economy Minister Zdravko Počivalšek said on Monday that the government was deliberating mitigation measures, such as subsidies to compensate for shorter working time. (STA)
INTERNATIONAL MARKETS
Dow plunges 1,000 points on coronavirus fears, 3.5% drop is worst in two years; Europe stocks sink on fears coronavirus is spreading in Italy; airlines lead losses
Stocks fell sharply on Monday as the number of coronavirus cases outside China surged, stoking fears of a prolonged global economic slowdown from the virus spreading. The Dow Jones Industrial Average closed 1,031.61 points lower, or 3.56%, at 27,960.80. The S&P 500 slid 3.35% to 3,225.89 while the Nasdaq Composite closed 3.71% lower at 9,221.28. It was the Dow’s biggest point and percentage-point drop since February 2018. The Dow also gave up its gain for 2020 and is now down 2% for the year. The S&P 500 also had its worst day in two years and wiped out its year-to-date gain as well.
Coronavirus-impacted names led the way lower. Airline stocks Delta and American were both down more than 6% while United closed 5.4% lower. Shares of casino operators Las Vegas Sands and Wynn Resorts dropped at least 5.2% each. MGM Resorts slid 5.4%.
Chipmakers, which are highly leveraged to the global economy, were also down broadly. Nvidia shares were down 7.1% while Dow-component Intel ended the day down 4%. AMD dipped 7.8%.
European stocks closed sharply lower Monday as investors monitored the continuing spread of the coronavirus beyond China. The pan-European Stoxx 600 closed down 3.8% provisionally, with travel and leisure stocks tumbling over 6% to lead losses as all sectors slid sharply into the red. Italy’s FTSE MIB was down more than 1,350 points, or 5.5%.
SERBIA
National Assembly adopts law on free trade with EAEU
The National Assembly of Serbia has adopted the Law on Confirming the Agreement on Free Trade between Serbia and the Eurasian Economic Union and its member states, envisaging access to a market of over 180 million people. The agreement does not jeopardize Serbia's path to Europe. The European Union is not just the primary foreign policy objective of Serbia, but also the first foreign trade partner, with which we realize 65% of the total trade, whereas the trade with the EAEU countries amounts to around 7% – Mali said during the discussion. (Ekapija)
NBS: Inflation expected in a range of 2-2.4%
According to the latest NBS inflation survey, one year ahead inflation is expected in a range of 1.9-2%, while for the period of two years ahead the range is at 2-2.4%. In both cases this is in line with targeted 3 + or – 1.5%. (NBS, Ilirika)
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