SLOVENIA
State borrows another EUR 2.25 billion, Finance reports
The Slovenian state has borrowed another EUR 2.25 billion by carrying out a new 10-year bond issue and expanding the amounts of the previous two bond issues, the business newspaper Finance reported on Tuesday, referring to Bloomberg. (STA)
INTERNATIONAL MARKETS
Stocks close lower after roller-coaster session, Dow gives up 900-point surge; European markets climb on tentative hopes the coronavirus may have peaked; Cineworld soars 50%; BELEX15 up 1.2%, led by Tehnogas and Jedinstvo
Stocks closed lower on Tuesday, giving up a massive rally from earlier in the day, as Wall Street assessed the latest news on the coronavirus outbreak. The Dow Jones Industrial Average closed 26.13 points lower, or 0.1%, at 22,653.86. The 30-stock average rose as much as 937.25 points, or 4.1%, at its session high. The S&P 500 ended the day 0.2% lower at 2,659.41 after jumping more than 3%. The Nasdaq Composite fell 0.3% to 7,887.26 following a 3% rally. Tuesday’s roll-over follows a massive rally in the previous session, in which the Dow had its third-biggest point gain on record.
Some investors believed stock prices were getting ahead of the reality where coronavirus shutdowns are likely to weigh on the economy significantly beyond the second quarter. The major averages have rallied about 20% from their March 23 lows.
European markets traded higher Tuesday as investors hoped that the region could be seeing a plateau in the coronavirus outbreak. The pan-European Stoxx 600 was up 1.2% during afternoon deals, with travel and leisure stocks surging 5.6% to lead gains, as all major bourses entered positive territory. In terms of individual share price action, cinema chain Cineworld soared almost 50% after outlining its coronavirus plan on Tuesday morning, which will include cutting its dividend and a salary deferral for executive directors.
Serbian BELEX15 added additional 1.2%, as Tehnogas jumped 6.5% and Jedinstvo gained 3.5%. The most traded name was Jubmes Banka, with RSD 5.1m and NIS with RSD 4m generated. Jedinstvo ended 2019 with 44% higher non-consolidated net profit (the base remains low), which was boosted by solid financial gains. Sales were 37% higher, due to higher volume of executed job. It seems that dividend will remain stable.
About 85% of micro and small enterprises in Serbia estimate that the COVID-19 pandemic will have a negative impact on their activities, reveals the latest survey presented by Smart Kolektiv and Forum za Odgovorno Poslovanje (The Forum for Socially Responsible Business). Around 80% of the survey participants said they experienced a decline in demand for their products and services during the pandemic and expected the same to happen after the pandemic too, while about 30% believe that the pandemic will lead to a reduction in the number of employees.
Source: CNBC, Ilirika
