World Economic & Market Developments
Global Markets: Taking their cue from losses in Asian bourses on Monday, European stock markets broadly fell in morning trade amid global growth concerns after Japan’s economy unexpectedly slid into recession
South Eastern Europe
Serbia: The EUR/RSD closed marginally lower on Friday after repeated Central Bank interventions in the FX markets in order to support the dinar.
Romania: In a major surprise, ethnic German mayor of the Transylvanian city of Sibiu Klaus Iohannis won Sunday’s presidential election run-off, defeating incumbent Prime Minister Victor Ponta.
Bulgaria: The European Commission announced on Friday its decision to unfreeze Euros240mn of payments to Bulgaria under the Operational Program Environment for the programming period 2007-2013 after the country endorsed necessary corrective measures.
CESSEE Markets: The majority of emerging stock markets recoiled on Monday amid mounting global growth concerns, while a mixed picture was evidenced earlier in the CESEE region. Separately, CESEE currencies were little changed.
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