Daily Overview of Global Markets & the SEE Regioni (Friday, March 27, 2015

Markets, News, Reports, Statistics, Stock Markets — By on March 27, 2015 at 1:50 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: The US currency regained some ground in European trade on Friday assisted by y-day’s positive US data and hawkish comments by Federal Reserve Bank of Atlanta President Dennis Lockhart. Focus today is on FOMC Chairman Janet Yellen who is scheduled to deliver a speech at 20:45 CET.

GREECE: Greece is reportedly expected to submit on Monday a fully costed list of reforms with a view to have it swiftly approved by euro area finance ministers, in an effort to secure an early (partial) disbursement of the €7.2bn pending loan tranche. On the data front, the most recent Bank of Greece data revealed that euro-denominated deposits & reports of domestic households and non-financial corporations in Greek MFIs excluding the Bank of Greece (BoG) dropped in February for the fifth month in a row coming in at the lowest level since March 2005.

CYPRUS: According to the latest MFIs loans and deposits statistics released by the Central Bank of Cyprus yesterday, total deposits declined by 3.8%YoY in February to stand at €46.5bn. Meanwhile, total loans decreased by 1.2%YoY over the same month to amount to €64.6bn.

SOUTH EASTERN EUROPE

BULGARIA: According to media reports quoting the Minister of Agriculture and Food Dessislava Taneva, over €1bn of EU funds out of a total of €2.3bn will be available for boosting competitiveness in the agricultural sector.

ROMANIA: The general consolidated budget ran a 0.33% of GDP cash-basis surplus over the first two months of the year vs. a shortfall of 0.46% of GDP recorded over the same period in 2014.

SERBIA: Speaking to reporters in Belgrade on Thursday, Prime Minister Aleksandar Vucic expressed belief that the Q1 budget deficit won’t exceed RSD 27bn, an amount half the IMF-backed target of RSD 55.7bn for that period.

CESEE MARKETS: Tracking losses in global bourses on Thursday,  emerging stock markets closed broadly lower amid increasing geopolitical tensions in the Middle East. Against a backdrop of deteriorating risk sentiment,  CEE currencies and government bonds broadly weakened on Thursday.

Viewers can read the full report herebelow:

Daily Overview March 27, 2015

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