Daily Overview of Global Markets & the SEE Region (11 November 2014)

Company Profiles, HR, Markets, News, Person Profiles, Reports, Stock Markets — By on November 11, 2014 at 11:30 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

HIGHLIGHTS

WORLD ECONOMIC & MARKET DEVELOPMENTS

GLOBAL MARKETS: Major European bourses opened higher on Tuesday, taking their lead from the positive tone in Wall Street overnight. In FX markets, the latest bout of increased risk appetite dented the JPY’s safe-haven appeal with the USD/JPY hitting a fresh seven-year high earlier today.

GREECE: Speaking to reporters y-day after his meeting with Greece’s Premier Antonis Samaras, Deputy Prime Minister Evangelos Venizelos said that he expects troika heads to return to Athens soon enough so as Greece’s current program review to be completed in time for the December 8thEurogroup where the prospect of the country being granted a precautionary credit line after the expiration of the EFSF lending program, is expected to be addressed.

SOUTH EASTERN EUROPE

SERBIA: The dinar extended its recent losses on Monday to hit a new record low against the euro, amid persisting fiscal consolidation concerns and uncertainty surrounding the progress of the ongoing IMF negotiations.

ROMANIA: The Ministry of Finance sold as planned RON 1bn of 1-year T-Bills on Monday at an average accepted yield of 1.63%, below market expectations of 1.70-1.75%, while the bid-to-cover ratio stood at 2.24.

BULGARIA: The newly appointed finance minister Vladislav Goranov said on Monday that the recently endorsed government will discuss a new budget revision, withdrawing a previous one proposed by the caretaker government.

CESEE MARKETS: CESEE stock markets were mixed in European trade on Monday, while currencies broadly weakened and government bonds recorded modest gains after low inflation data from Romania and Hungary, released earlier on the day, added to expectations for further monetary easing in the region.

Viewers can read the full report herebelow:

Dailyoverview November 11, 2014

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