Daily Overview of Global Markets & the SEE Region (Tuesday, August 09, 2016)

Banking, Company Profiles, Markets, News, Person Profiles, Reports, Statistics, Stock Markets — By on August 9, 2016 at 1:40 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

WORLD ECONOMIC & MARKET DEVELOPMENTS

GLOBAL: Price action in the major stock markets was largely muted yesterday on a day with limited data to respond to. The STOXX (+0.04%) and the S&P500 (-0.09%) were both essentially flat despite oil’s rally (WTI +2.9%) after OPEC’s President predicted that the current bear market will be short lived. European equity markets kicked off the day on a positive territory with the DAX trading 0.50% higher and the major currencies are trading largely unchanged with the EURUSD gaining 0.1% at 1.1090 at the time of writing.

GREECE: The National CPI decreased on a yearly basis by -1.0% in July 2016 from -0.7% in June 2016. This acceleration in deflation stems from the category of clothing and footwear (e.g. due to the summer sales). The respective figures for HICP and HICP with constant taxes were +0.2% and -2.3%. On the real economy data front, the production index in industry increased on a yearly basis by 7.5% and on a monthly basis by 3.5% in June 2016.

SOUTH EASTERN EUROPE

ROMANIA: NBR slashed its year end forecast to -0.4% YoY in 2016 and +2.0% YoY in 2017 in the August inflation report.

SERBIA: PM Vucic unveils new cabinet, to be voted in by the end of the week.

Viewers can log herebelow and read the full report: Daily Overview August 9 2016

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