SLOVENIA
Business sentiment grows for second consecutive month
Business sentiment in Slovenia has grown for the second consecutive time in June, the data released by the Statistics Office on Wednesday show. The index increased by 8.7 percentage points (pp) to -24.0pp between May and June. Nevertheless, it was still 29.3pp lower than in June 2019 and 24.1pp lower than a years long average. (STA)
Retail revenue starts growing again in May
Slovenia's retail sector is growing stronger again after taking a blow during the coronavirus lockdown, data from the Statistics Office show on Wednesday. In a drop that lasted three consecutive months, retail revenue reached the lowest level since 2006 in April, but then gained 12.8% in May. It was however still 10.6% lower than in May 2019. (STA)
Luka Koper sued for EUR 20.7 million by former contractors
A group of representatives of former port service companies through which Luka Koper used to hire workers is suing the operator of the port of Koper for EUR 20.7 million. The lawsuit is reportedly related to the difference in the price the company now pays for the same services to workers hired through temping agencies. (STA)
Hidria management and partner mount buyout
Representatives of internal owners and the wider management of Hidria announced on Wednesday together with strategic partner, entrepreneur Alex Luckmann, the intention to take over H&R, which owns the Idrija-based industrial conglomerate. The group presently owns 52.03% in H&R. (STA)
INTERNATIONAL MARKETS
Nasdaq jumps to record led by Apple in longest winning streak since December; European stocks close higher as economic data shows downturn slowing; Wirecard up 19%; BELEX15 with no major changes, turnover plunges below 9ths EUR
The Nasdaq Composite rose to a fresh record on Tuesday with Apple leading major tech names higher as investors cheered a slew of announcements from the tech giant’s WorldWide Developers Conference. The tech-heavy index closed 0.7% higher at 10,131.37, notching its eighth straight daily gain. That marks the Nasdaq’s longest winning streak since December, when it advanced for 11 straight sessions. The Dow Jones Industrial Average climbed 131.14 points, or 0.5%, to close at 26,156.10. The S&P 500 ended the session up 0.4% at 3,131.29.
European stocks closed higher on Tuesday as euro zone PMI (purchasing managers’ index) readings showed the economic downturn slowing in June, while investors reacted to a surge of coronavirus cases in the U.S. and elsewhere.
The pan-European Stoxx 600 provisionally ended up 1.3%, with autos climbing over 3% to lead gains as all sectors and major bourses held in positive territory. IHS Markit’s flash euro zone PMI (purchasing managers’ index) readings on Tuesday showed a further easing of the bloc’s historic economic downturn in June. The composite PMI, widely seen as a credible gauge of economic health, increased to 47.5 in June from 31.9 in May and a record low 13.6 in April. A reading of 50 separates expansion from contraction.
Wirecard shares regained more than 19% after consecutive plunges amid an ongoing accounting scandal involving a missing $2.1 billion on its balance sheet. Former CEO Markus Braun, who resigned on Friday, was arrested Tuesday on charges of inflating the company’s balance sheet, according to Munich prosecutors.
Bayer added 6.5% after German newspaper Handelsblatt reported that the pharmaceutical and life sciences giant is close to agreeing an $8-10 billion settlement over claims that its glysophate-based weedkiller caused cancer.
BELEX15 ended Tuesday with very symbolic change – minus 0.07% as NIS and Philip Morris were only active stocks with symbolic price changes. Overall trade volume was out of any importunacy – slightly higher vs. 7 ths EUR if excluding solid activity at bonds. Energoprojekt scheduled its AGM for 23th July, while decision on profit distribution is incorporated into agenda items. Among other corporate issues, we will mention statement from NIS CFO, Angton Cerepanov, who said, the company is about to continue investing in crucial projects for its future, despite of current unfavorable and challenging macro environment for oil&gas companies. (CNBC, ILIRIKA)
