Platon Monokroussos, Chief Market Economist, Deputy General Manager, Eurobank Ergasias S.A
HIGHLIGHTS
WORLD ECONOMIC & MARKET DEVELOPMENTS
GLOBAL MARKETS: Tracking gains in Wall Street overnight, Asian stock markets moved higher on Tuesday on somewhat easing geopolitical concerns. Receiving additional support from upbeat corporate earnings results, European bourses opened broadly firmer on Tuesday extending this week’s gains. In the FX markets, the dollar gained ground in the wake of upbeat US housing data and in view of higher US Treasury yields.
SOUTH EASTERN EUROPE
SERBIA: Serbia’s Central Bank said on Monday that it has issued a preliminary license to Emirates’ Royal Group to set up a bank in Serbia.
ROMANIA: NBR governor Mugur Isarescu said that Romania should join the Banking Union as soon as possible, reiterating that he considers 2019 to be a realistic target for the adoption of the euro.
CESEE MARKETS: Taking their cue from firmer major bourses globally, the majority of emerging stock markets extended Monday’s gains in European trade on somewhat easing geopolitical concerns in Ukraine and the Middle East. In the FX markets, regional currencies were little changed earlier today.
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