Daily Overview of Global Markets & the SEE Region (31 October 2014)

Banking, Company Profiles, Finance, HR, Markets, News, Stock Markets — By on October 31, 2014 at 11:42 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

WORLD ECONOMIC & MARKET DEVELOPMENTS

GLOBAL MARKETS: Taking their cue from firmer Asian bourses earlier today, major European equity markets moved higher in early trade on Friday and the JPY weakened sharply following the BoJ’s unexpected decision to ease further its monetary policy.

GREECE: Halting a three-month falling streak, the Economic Sentiment Indicator for Greece improved in October coming in at 102.2 from 99.3 in the prior month. In other news, local press reports suggested today that the Greek government is expected to send to official lenders within the next couple of sessions a full set of policy proposals on key issues underlying Greece’s current program review that remain open.

SOUTH EASTERN EUROPE

SERBIA: Fresh selling pressures on the EUR/RSD pushed the pair to a three week low of 118.95/15 on Thursday’s close.


BULGARIA:
 According to local media reports on Thursday the GERB party is ready to strike a coalition agreement with the Reformist Bloc and form a minority government.

CESEE MARKETS: Taking their cue from the positive tone in major global bourses,  emerging stock markets broadly extended their recent gains in early European trade on Friday, in the wake of upbeat US Q3 GDP data and Bank of Japan’s unexpected expansion of its stimulus programme. On the back of increased risk appetite,  CESEE currencies extended their recent gains earlier today.

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