Daily Overview of Global Markets & the SEE Region (Wednesday, July 11, 2018)

Banking, Finance, Markets, Reports, Shipfinance, Statistics, Stock Markets — By on July 11, 2018 at 10:38 AM



GLOBAL MARKETS: Trade dispute between the US and China continues to escalate. In response to China’s retaliatory measures following the US imposition of an additional 25% duty on Chinese goods with an annual trade value of c. $34bn, effective from 6 July, and the US administration’s consideration of an additional 25% tariff on products of China worth c. $16bn in the coming months, the US Trade Representative proposed further action in the form of an additional 10% duty on targeted imports from China worth c. $200bn. In reaction to the above, European equity markets were weaker in early trade on Wednesday and core bond prices firmed. The two-day NATO Summit commences today in Brussels where the main issues of discussions are expected to be Russia and defense spending with US President Donald Trump likely urging European NATO members to increase defense spending towards the target of 2% of GDP by 2024.

GREECE: According to press reports, the European Commission is expected to present today the framework regarding the Enhanced Post Programme Surveillance for Greece, which will then have to be approved by the Eurogroup and the ESM. According to the ELSTAT, the overall industrial production (IPI) index in May 2018 recorded an increase of 1.0%YoY. The Consumer Price Index (CPI) in June 2018 increased by 1.0% YoY the same rate of change as in June 2017.


CYPRUS: Τhe House Price Index expanded by 3.7% YoY in Q1-2018.

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