Daily Overview of Global Markets & the SEE Region (2 December 2014)

Banking, Finance, Markets, News, Reports, Stock Markets — By on December 2, 2014 at 11:35 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: The USD retained a firm tone across the board in European trade on Tuesday as US macro data releases continued to support the view that the domestic economy remains on a sustained recovery path and the Fed is likely to embark on a rate tightening cycle in mid-2015.

GREECE: Greece’s Manufacturing Purchasing Managers’ Index (PMI) came in at a three-month high of 49.1 in November from October’s 48.8 mainly supported by the stabilisation of output. Separately,  the Economic Sentiment Indicator for Greece improved in November for the second month in a rowcoming in at a five-month high of 102.7 from October’s 102.2, approaching a six-year peak of 103.7 marked in June.

SOUTH EASTERN EUROPE

SERBIA: The EUR/RSD hit an intraday record high of 120.80/00 at some point on Monday assisted by the absence of renewed intervention by the National Bank of Serbia.

ROMANIA: The EUR/RON continued to consolidate within the 4.4200/4.4335 recent range in early trade on Tuesday. Romanian markets were closed on Monday due to a public holiday.

BULGARIA: The Bulgarian Cabinet approved on Monday a government loan of BGN 2bn to Bank Deposit Guarantee Fund for the repayment of guaranteed deposits in Corporate Commercial Bank.

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Dailyoverview December 2, 2014

 

 

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