SLOVENIA
Port operator Luka Koper H1 net profit falls 40% to EUR 15m
Net profit at port operator Luka Koper declined by 40% year-on-year to EUR 15 million in the first six months of 2020, as net revenue was down 11% to EUR 107 million. All cargo categories were affected by the slowdown in trade, shows the company's interim report released on Tuesday. The shareholders of port operator Luka Koper will get EUR 1.07 gross a share in dividends, the company's AGM decided on Wednesday. In total, EUR 14.98 million will be paid out, while EUR 15 million in profit will remain undistributed. (STA)
Sava Re intends to pay out dividends
Insurer Sava Re will notify the Insurance Supervision Agency of its plan to pay out dividends for 2019 this year. If the regulator has no objections, Sava Re will call an AGM to decide on the dividend payment. The development comes after the insurance sector was recommended not to pay out dividends due to Covid-19 uncertainties. (STA)
Cinkarna Celje H1 revenue down by 4% to EUR 88.7m, net profit by 21% to EUR 9.9m
Cinkarna Celje, the Celje-based chemical company, saw its net profit plummet by 21% in the first half of the year to EUR 9.9 million while revenue was down 4% to EUR 88.7 million. Operating revenue decreased by 22% year-on-year, show the company's unaudited results, released on Wednesday. (STA)
INTERNATIONAL MARKETS
S&P 500 rises to another record, even as rally leader Apple snaps 5-day winning streak; European stocks close lower amid momentum in global markets; Aveva up 7%; BELEX15 down 0.14%; Average net wage in Serbia in June € 475.07
The S&P 500 and Nasdaq Composite rose to all-time highs on Tuesday, continuing their blistering rally off the March lows even amid a mixed batch of economic data and a rare decline by market leader Apple.
The broader market index closed 0.4% higher at 3,443.62. The tech-heavy Nasdaq advanced 0.8% to 11,466.47. Facebook climbed more than 3% to lead both benchmarks higher. Amazon, Alphabet and Microsoft were all up more than 1%. Earlier on Tuesday, U.S. Census reported a 36% surge in sales of newly built homes in July. However, the Conference Board’s consumer confidence index fell for a second straight month.
European stocks closed slightly lower on Tuesday, reversing earlier gains as investors tracked U.S.-China trade talks and the latest moves in global markets. The pan-European Stoxx 600 index provisionally closed down by almost 0.2%, with most sectors slipping into negative territory. Oil and gas stocks led the losses to slip 1.3%, while travel and leisure stocks were the top performers, up about 1.5%.
Looking at individual stocks, Aveva Group rose to the top of the pan-European benchmark after announcing a deal to buy SoftBank-backed U.S. software firm OSIsoft for $5 billion. The stock was up more than 7% on the news.
On the data front, Germany released more detailed information on its second-quarter growth data that showed its economy shrank by 9.7% from the previous three month period.
BELEX15 was down only light 0.14%, mainly due to the fact that Jedinstvo faced almost 5% decline on a daily basis. The most active name was Komercijana Banka again, with RSD 7.9m, while its stock price was flat y/y.
The average salary in Serbia in June was 475.07 Euro (59.740 RSD), and compared to the same month last year, it was nominally higher by 11.4, and really by 9.6 percent, according to the Republic Bureau of Statistics. The average gross salary in June was 699.14 Euro (82,572 RSD), and in comparison to last June, it was nominally higher by 11.6, and really by 9.8 percent. (CNBC, ILIRIKA)
