SLOVENIA

Annual inflation in February at 2% due to costlier food, housing

The prices of consumer products in Slovenia were up by 2% on average in February over the same month in 2019, mostly due to higher prices of food and housing. More expensive holiday packages were the main factor in the monthly inflation, which stood at 0.7%, the Statistics Office reported on Friday.

First estimate puts Slovenia's GDP growth in 2019 at 2.4%

Slovenia's GDP expanded by 2.4% in 2019 after growing by 1.7% in the final quarter year-on-year, shows the first estimate released by the Statistics Office in Friday. The annual increase is slightly below what had been announced in projections. (STA)

Port operator Luka Koper reports 32% decline in net profit for 2019

Luka Koper, the operator of Slovenia's sole maritime port, saw a group net profit plunge by 32% to EUR 40.4 million in 2019 due to a slowdown of global trade. Revenue remained broadly flat at EUR 228.7 million, six percent below plans, the company said on Friday. (STA)

Insurance group Sava's profit up 16.7% to EUR 50.2m last year

The insurance group Sava collected EUR 599.3 million in gross premiums last year, which is 9.7% more than in 2018, while its net profit was up 16.7% to EUR 50.2 million, show the unaudited financial results released by the parent company Sava Re on Friday. (STA)

INTERNATIONAL MARKETS

Dow falls 350 points Friday to cap the worst week for Wall Street since the financial crisis; European stocks fall 12% on the week as coronavirus grips markets

Stocks tumbled once again on Friday, capping off their worst week since the financial crisis, as worries over the coronavirus and its impact on the economy continue to rattle investor sentiment. The Dow Jones Industrial Average dropped 357.28 points, or more than 1%, to 25,409.36. The 30-stock Dow briefly fell more than 1,000 points then rallied into the close in a wild trading session characteristic of the week. The S&P 500 slid 0.8% to 2,954.22. The Nasdaq Composite closed flat at 8,567.37 but fell as much as 3.5% on the day.
European stocks extended a historic week of losses on Friday as the coronavirus outbreak continued to pummel global markets into correction territory. The pan-European Stoxx 600 closed 3.8% lower as markets around the world tanked. The benchmark lost approximately 12.7% for the week, its worst since October 2008 at the height of the global financial crisis.
Rolls-Royce was the highest performing individual stock in the Stoxx 600 on Friday, climbing 4% after a strong earnings report.
British Airways parent IAG slipped 9% after warning of an expected hit to earnings from the coronavirus outbreak. (CNBC)

SERBIA

NIIS: NIS ends 2019 with RSD 16.6bn in FY net profit, down 34% y/y

NIS reported FY 2019 net profit at RSD 16.6bn, down 34% on lower sales and lower EBITDA. The result was not a surprise and it was expected given the performances in 9M 2019. EBITDA amounted to RSD 44.5bn, down 17% due to temporary halt in production over 1Q19 period, as well as due to lower crude oil prices. The company’s sales arrived at RSD 272bn, down 3% y/y. Given the challenging environment in 2019. management finds that annual season was relatively good. This year, the company expects completion of deep processing facility and commercial operations of TE-TO Pancevo energy facility. (NIS, Ilirika)

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