SLOVENIA
Brussels projects 7% GDP drop for Slovenia this year, 6.7% recovery in 2021
In its first economic forecast following the imposition of measures in EU member states to contain the coronavirus pandemic, the European Commission has projected that Slovenia's gross domestic product (GDP) will drop by 7% this year compared to 2019, while a 6.7% recovery is expected in 2021. (STA)
Almost 11,000 jobs lost in Slovenia in April
The coronavirus crisis is taking a heavy toll on Slovenia's job market with data from the Employment Service showing that 10,793 people were added to the unemployment register in April alone, pushing the total up by 19.9% year-on-year to 88,648. (STA)
Eurostat: Slovenia's annual retail sales down 15% in March
The EU's retail sector was severely affected by Covid-19 lockdown measures in March at monthly and annual levels, Eurostat latest figures show. Slovenia's posted an annual drop of 15.1%, the second steepest fall in the entire EU, behind France (-16%). This compares to the EU's average drop of 8.2% and the eurozone's 9.2%. (STA)
Car sales in Slovenia down 71% in April
Car dealerships have been hit hard by the coronavirus lockdown. Sales of new cars and vans plunged by 71% year-on-year in April and 39% in the first four months compared to the same period last year, show the latest Chamber of Commerce (TZS) figures. (STA)
INTERNATIONAL MARKETS
Stocks rise for a second day with Dow up 100 points as investors bet on the economy reopening; European shares close 2% higher as more lockdown restrictions are lifted; oil firms up 6%; BELEX15 down 0.44%
Stocks rose on Tuesday as investors bet the U.S. economy could start to reopen again while oil prices jumped for a fifth straight day. The Dow Jones Industrial Average closed 133.33 points higher, or 0.6%, at 23,883.09. The S&P 500 gained 0.9% to close at 2,868.44 while the Nasdaq Composite advanced 1.1% to 8,809.12.
Pfizer shares rose after the pharmaceutical giant said it started coronavirus vaccine trials in humans. This led to a 2.2% rally in the S&P 500 health care sector.
European stocks closed sharply higher on Tuesday as investors took stock of the gradual opening of economies in Europe and beyond. The pan-European Stoxx 600 closed over 2% higher provisionally, with all sectors and major bourses in positive territory. Oil and gas shares were the best performers, up more than 6%.
In terms of corporate earnings, BNP Paribas reported a net income of 1.3 billion euros ($1.42 billion) for the first three months of the year, down 33% from the same period in 2019. The French lender’s stock climbed around 4%.
Total posted a first-quarter net profit of $1.8 billion, down 35% from a year ago but exceeding analyst expectations and sending the oil major’s shares 8% higher.
BELEX15 was down 0.44% as Belgrade Airport lost over 3%. NIS was up 1.53%, probably due to recent oil price recovery. This was also the most traded stock with RSD 7.1m in volume.
The deficit of the state budget of Serbia in the first quarter of 2020 amounted to RSD 46.9 billion, the Ministry of Finance announced. The income amounted to RSD 296.3 billion, whereas the expenditures amounted to RSD 343.3 billion. The March deficit was RSD 46.3 billion. (CNBC, ILIRIKA)
