WORLD ECONOMIC & MARKET DEVELOPMENTS
GLOBAL MARKETS: Bucking the positive trend in Wall Street overnight, Asian bourses broadly fell on Tuesday on growth concerns in the region. Meanwhile, most European stock markets reversed earlier losses to stand in the black at the time of writing on upbeat corporate earnings results. In FX markets, the Australian dollar recovered ground following a short-lived retreat after the Reserve Bank of Australia cut its key policy rate by 25bps to a record low of 2.00%.
GREECE: Speaking to reporters y-day, Greek government spokesman Gabriel Sakellaridis was quoted as saying that there has been progress in official discussions and appeared confident that a comprehensive agreement covering a wide range of the contentious issues could be reached by the end of May.
SOUTH EASTERN EUROPE
ROMANIA: International reserves of the National Bank of Romania (NBR) (FX and gold) stood at €33.7bn in April, vs. €34.3mn in March. The stock of gold remained unchanged at 103.7 tones, while foreign exchange reserves, inched down to € 30.1bn in April from €30.6bn in the prior month.
CESEE MARKETS: Tracking gains in global bourses, the majority of emerging equity markets closed in the black on Monday, on optimism that Chinese authorities will likely adopt additional economic stimulus measures ahead. Elsewhere, CEESE currencies and government bonds closed mixed on Monday.
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