Daily Overview of Global Markets & the SEE Region (Monday, July 18, 2016)

Banking, Company Profiles, Finance, HR, Markets, News, Person Profiles, Reports, Statistics, Stock Markets — By on July 18, 2016 at 9:55 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



GLOBAL MARKETS: Taking their cue from the positive tone in the majority of Asian bourses, European equity markets were firmer in early trade supported by M&A news and a string of positive US data suggesting that the domestic economy ended the second quarter on a firm note. Meanwhile, the NZD was among the main underperformers in FX markets, on increased RBNZ rate easing expectations.

GREECE: EU Commissioner for Economic and Financial Affairs Pierre Moscovici is scheduled to pay an official visit to Athens today to hold discussions with domestic authorities on the progress made so far by in the implementation of the prior actions attached to the release of the next ESM loan-tranche (€2.8bn) as well as the successful completion of the 2nd review which is expected to commence in early October.


BULGARIA: The domestic equity market witnessed another quiet week with trading remaining thin. Meanwhile government bond yields declined leading to some flattening of the curve in the long-end and Eurobonds remained supported with yields dropping between 6 and 8 bps.

SERBIA: The EUR/RSD remained under heavy pressure by ample euro liquidity last week. However, the cross was little changed on a weekly basison Friday due to repeated Central Bank interventions in the FX markets in order to halt the dinar’s upside momentum.

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Daily Overview July 18 2016

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