Daily Overview of Global Markets & the SEE Region (Friday, September 11, 2015)

Banking, Company Profiles, Finance, Markets, News, Person Profiles, Reports, Statistics, Stock Markets — By on September 11, 2015 at 8:47 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: Wall Street posted modest gains overnight, as the positive jobless claims release overshadowed the weak wholesale inventories. Elsewhere, Asian bourses swung between gains and losses on Friday amid mounting speculation about a potential further policy action by the Chinese authorities to boost the slowing domestic economy. In Europe, major equity indices opened lower, trimming their biggest weekly gains in almost two months. On the data front, focus today is on the University of Michigan’s index of US consumer sentiment, which is expected to decline to 91.1 in September from 91.9 in August. Additionally, European Union finance minister and central bankers hold a two-day informal meeting in Luxembourg that starts today.

GREECE: In his speech at the 10th Athens Stock Exchange Roadshow in London yesterday, the Greek Finance Minister George Houliarakis, reportedly said that he expects milder-then-expected economic recession in 2015 and return to growth in 2016.

SOUTH EASTERN EUROPE

ROMANIA: CPI came at -0.5%MoM/-1.9%YoY in August down from -0.2%MoM/-1.7%YoY in July vs. -2.95%MoM/-1.55%YoY in June, lower than a market consensus of -0.1%MoM/-1.5%YoY.

SERBIA: The National Bank of Serbia (NBS) took financial markets by surprise on Thursday, cutting the benchmark interest rate by 50bps for the 2nd month running to a new record low of 5.00%.

Viewers can read the full report herebelow:

Daily Overview September 11 2015

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