Daily Overview of Global Markets & the SEE Region (18 November 2014)

Banking, Finance, Markets, News, Reports, Stock Markets — By on November 18, 2014 at 4:20 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: Bucking the negative trend in most Asian bourses and tracking gains in Japan’s Nikkei, European stock markets moved broadly higher in morning trade today on the back of upbeat data from Germany and hopes that a snap election in Japan may result to the adoption of additional economic stimulus measures in the country.

SOUTH EASTERN EUROPE

SERBIA: The dinar gave up on Monday all gains recorded at the end of last week as fiscal consolidation concerns linger while market anxiety persists ahead of the conclusion on November 20 of the negotiations between the government and the IMF over a new financial aid package.

BULGARIA: According to the latest BNB data, the current account surplus decreased by 66.4%YoY to €431.9mn (or 1.1% of GDP) over the first nine months of the year, while foreign direct investments in Bulgaria declined by 4.7%YoY to €1, 105.6mn.

CESEE MARKETS: Taking their cue from gains in major European bourses, the majority of CESEE stock markets advanced on Tuesday on improved risk sentiment. In the FX markets,  CESEE currencies broadly firmed with the Turkish lira leading the gains thanks to lower oil prices.

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Dailyoverview November 18, 2014

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