Daily Overview of Global Markets & the SEE Region (Thursday, September 07, 2017)

Markets, News — By on September 7, 2017 at 12:12 PM

Dr. Platon , Monokroussos, Chief Market Economist, Deputy General Manager, Eurobank Ergasias S.A.,

HIGHLIGHTS

WORLD ECONOMIC & MARKET DEVELOPMENTS

GLOBAL MARKETS: Wall Street advanced modestly overnight following an unexpected announcement by the White House that US President Trump had agreed with congressional leaders for 3-month government funding and debt limit extension until December 15th. In Asia, major equity indices traded mixed on Thursday overshadowing the US debt ceiling deal, as persisting concerns over North Korea’s nuclear and missile programme continue to weigh on investor sentiment. Focus today centres on the ECB’s monetary policy meeting, where the Central Bank is broadly anticipated to abstain from announcing a reduction of its monthly asset purchase programme.

GREECE: The French President Emmanuel Macron is scheduled to visit Greece today accompanied by a number of French entrepreneurs/investors who are reportedly interested in potential privatisation projects. With respect to the Hellinikon project, a number of impediments to the investment remain in place, nevertheless, the Undersecretary of the Minister of Economy Stergios Pitsiorlas expressed confidence in an interview today that by the end of the year the Presidential Decree approving the spatial development plan will have been issued and that construction works will begin in 2018. According to the “Report on Operational Targets for Non-Performing Exposures” released yesterday by the Bank of Greece, at end-June 2017, the stock of Non-Performing Exposures (NPEs) had decreased by 2.0% and 3.2% compared to end-March 2017 and end-December 2017 respectively, reaching €102.9 billion or 44.9% of total exposures. According to the Hellenic Statistical Authority (ELSTAT), the seasonally adjusted unemployment rate in June 2017 was 21.2% compared to 23.5% in June 2016 and the downward revised 21.5% in May 2017.

SOUTH EASTERN EUROPE

CESEE MARKETS: The majority of emerging market assets moved higher earlier on Thursday on improved risk appetite, following news about the US debt ceiling deal. In the CESEE space, assets remained mostly range-bound ahead of the ECB meeting. Viewers can read the full report herebelow: Daily Overview September 7 2017

 

 

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