Daily Overview of Global markets & the SEE Region (1 October 2014)

Markets, News, Stock Markets — By on October 1, 2014 at 12:33 PM
Dr. Platon Monokroussos,  Chief Market Economist, Deputy General Manager, Eurobank Ergasias S.A

Dr. Platon Monokroussos, Chief Market Economist, Deputy General Manager, Eurobank Ergasias S.A

Highlights

World economic & Market Developments

Global Markets:  Market expectations that the ECD is likely to adopt further monetary stimulus measures in the months ahead, especially after y-day’s data showed that Eurozone flash HICP resumed its downtrend in September hitting a new cyclical low. Focus today is on the release of the US ADP employment data as well as the manufacturing  report for September which both have the potential to assist the USD extend its recent gains should they surprise positively.

Greece: International newswires suggested today that ECB President Mario Draghi intends to propose t the Executive Board to ease existing requirements on the quality of assets accepted  by banks so as the Central Bank to be allowed to buy Greek and Cypriot asset backed securities (ABS with “junk ratings”).

Southern Eastern Europe

Serbia: Exports industrial production fall in August

Romania: NBR cuts key policy rate by 25bps to 3.00%, in the line with the market’s consensus, but unexpectedly reduces minimum reserve requirements ratio on leu-denominated liabilities of credit institutions to 10% from 12%.

Bulgaria: Producer prices decreased in August.

CESEE: Emerging stock markets broadly fell in European trade on Wednesday, with persisting social unrest in Hong-Kong, a stronger US dollar and concerns about  the outlook of the world’s second largest economy weighing on regional bourses.  Separately, CESEE currencies were mixed at the time of writing, with Turkish lira extending its recent downtrend.

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Dailyoverview October 1, 2014

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