SLOVENIA
Slovenia and US sign 5G security declaration
Slovenia and the US signed a joint declaration on security of 5G networks as US Secretary of State Mike Pompeo paid a visit on Thursday. Pompeo told the press in Bled that the tide was turning against the Chinese Communist Party, which is trying to control people and other economies. (STA)
Foreign direct investment in Slovenia up EUR 552m in H1
Foreign direct investment in Slovenia increased by EUR 552 million in the first half of 2020, a significantly slower rate of increase than in the same period last year, when inbound investment rose by almost EUR 639 million. In the 12 months until the end of June, FDI was up EUR 725.7 million. (STA)
INTERNATIONAL MARKETS
S&P 500 rallies, closes just shy of its record closing high; European markets close higher as investors shake off coronavirus concerns: BELEX15 up 0.18%; Annual inflation in July at 2%
Stocks rose sharply on Wednesday, putting the S&P 500 just below its all-time high set in February, as shares of the major tech companies recovered some of their steep losses from the previous session. The S&P 500 gained 1.4%, its biggest one-day jump since July 6, to close at 3,380.35. In the final hour of trading, the broader market index briefly traded above its record closing high of 3,386.15. The index also ended the session just 0.4% shy of its intraday all-time high of 3,393.52The Dow Jones Industrial Average jumped 289.93 points, or 1.1%, to close at 27,976.84. The Nasdaq Composite outperformed, rallying 2.1% to 11,012.24. Sentiment was also lifted in part by President Donald Trump saying late Tuesday that the U.S. government will purchase 100 million doses of Moderna’s experimental coronavirus vaccine, which is currently in late-stage human trials.
European stocks closed higher on Wednesday following a choppy start to trading, as investors continued to bet on an impending economic recovery from the coronavirus crisis.
The pan-European Stoxx 600 closed up by over 1.1%, with most sectors and major bourses in positive territory. Telecoms shares added 1.7% to lead gains while the travel and leisure sector bucked the positive trend with a 1% decline.
Earnings remain on investors’ radar. Dutch bank ABN Amro jumped 8% after beating second-quarter profit expectations, while also announcing that it would quit its trade and commodity financing operations in a massive corporate bank overhaul.
Activity over BELEX market remains low, while BELEX15 was up only light 0.18%, as Komercijana Banka was up 1.25%, while NIS on the other side, lost 0.55%. Komercijana was the most active at the same time, with RSD 1.2m in volume.
According to SORS data, y-o-y inflation continued to move in line with NBS expectations. It measured 2.0% in July. In monthly terms, consumer prices picked up 0.2% in July, mirroring the prices of petroleum products and travel packages, and the cigarette price adjustment. Seasonally lower vegetable prices worked in the opposite direction. (CNBC, ILIRIKA)
