SLOVENIA
Moody's upgrades credit rating for NLB and NKBM
After upgrading the long-term issuer and senior unsecured bond ratings for Slovenia last week, rating agency Moody's has also upgraded the credit ratings for the NLB and NKBM banks, for both from Baa2 and Baa1. The outlook remained stable, the agency said on Tuesday. (STA)
Central bank sees sharp increase in risk to financial stability
Risks to financial stability have increased sharply as a result of the coronacrisis, mostly as a result of the deep economic slump. Income and credit risk have increased as well, shows the latest Financial Stability Report by Slovenia's central bank. (STA)
Huawei says alleged plan to label it high-risk supplier unjustified
The Chinese technological giant Huawei has responded to the Slovenian government's reported plans to label it a high-risk supplier by expressing surprise and disappointment over what it thinks is an unjustified decision. It has noted that the government has not consulted Huawei despite its multiple attempts to meet. (STA)
INTERNATIONAL MARKETS
Dow jumps 465 points with Trump set to leave hospital; stimulus hope adds to rally; European markets close higher as investors track Trump’s health; BELEX15 Official talks with IMF mission about economic trends and state measures begin
U.S. stocks climbed on Monday after President Donald Trump said he will be discharged from the hospital Monday evening, easing concerns about more political uncertainty ahead of Election Day.
Investors also grew more hopeful that lawmakers would reach a compromise on a new stimulus deal. Trump’s illness, as well as a weak September jobs report, highlighted the urgency for further coronavirus aid after a months-long stalemate in Washington.
The Dow Jones Industrial Average climbed 465.83 points, or 1.7%, to 28,148.64. The S&P 500 rose 1.8%, or 60.18 points, to 3,408.62, while the Nasdaq Composite gained 2.3%, or 257.47 points, to 11,332.49.
European stocks closed higher Monday as global markets were calmed by reports of President Donald Trump’s health as he’s treated for Covid-19. The pan-European Stoxx 600 closed 0.9% higher provisionally, with telecoms stocks climbing 2.3% to lead gains as all sectors except utilities traded in positive territory.
French utility Suez dropped over 4% after investment fund Ardian opted against bidding for the company.
BELELX15 was down only symbolic 0.08%, as NIS lost 0.7%, while 0.32% gain at Belgrade Airport mainly neutralized it. The most active name was Philip Morris, with RSD 0.6m in volume, while NIS generated RSD 0.3m in turnover.
Official talks between the delegation of the Republic of Serbia and the IMF mission started yesterday. The talks with the IMF mission will last until October 16 as part of the last, fifth semi-annual review of Serbia’s economic program supported by the Policy Coordination Instrument (PCI). Approved in July 2018 for a period of 30 months, the PCI is an advisory instrument and does not involve any disbursement of funds. (CNBC, ILIRIKA)
