Daily Overview of Global Markets & the SEE Region (17 October 2014)

Banking, Finance, Markets, News, Stock Markets — By on October 17, 2014 at 9:54 AM
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



GLOBAL MARKETS: The majority of European bourses opened higher on Friday recovering some of their recent hefty losses supported by a string of positive US macro data released on Thursday. Nevertheless, market sentiment remains fragile amid lingering worries over the sustainability of the global economic recovery, assisting core government bonds retain a firm tone.

GREECE: In a statement released y-day, European Commission Vice President Jyrki Katainen said that “Europe will continue to assist Greece in whatever way is necessary to ensure reasonable financing conditions for Greek State and to smooth the path back to full and sustainable market access”. He also added that EU partners will support the country in reassuring financial markets of its ongoing firm commitment to reform and to maintain fiscal discipline via the maintenance of strong and adequate fiscal buffers.


SERBIA: In line with market expectations, the National Bank of Serbia (NBS) kept its key policy rate unchanged at 8.50% at its MPC meeting on Thursday.

ROMANIA: S&P is scheduled to announce later today its review on Romania’s sovereign credit rating.

BULGARIA: Bulgaria posted the highest deflation rate among all EU member states in September, with year-on-year HICP marking a negative reading for the fourteenth month running, of -1.4%YoY.

CESEE MARKETS: The majority of CESEE stock markets staged a rebound in morning trade on Friday, tracking a recovery in European bourses. Separately,  CESEE currencies and government bonds were mixed.

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Dailyoverview October 17, 2014

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