Home Associations Daily Overview of Global Markets & the SEE Region (Friday, May 8, 2015)
Dr. Platon Monokroussos,  Chief Market Economist, Deputy General Manager, Eurobank Ergasias S.A

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



GLOBAL MARKETS: The GBP was among the main outperformers in FX markets on Friday following news that the Conservatives are on track to win an outright majority in the 650-seat UK parliament.  Elsewhere, the USD gained some ground favored by y-day’s positive US initial jobless claims which fueled market optimism for an encouraging April non-farm payrolls report, due for release later in the day. Consensus is for a 223k increase in the headline following a rise of 126k in the prior month while the unemployment rate is likely to edge down to 5.4% from 5.5% in March.

GREECE: The Euro Working Group will reportedly convene later today via teleconference to assess progress in official discussions between Greece and its official lenders ahead of the upcoming Eurogroup scheduled for Monday, May 11. According to recent comments by European Commission spokesman Margaritis Schinas, official talks have become more constructive lately but it is “premature” to discuss whether a common statement will be issued at the upcoming Eurogroup.


ROMANIA: Net average earnings rose by 5.7%MoM in March, bringing the annual rate of increase to 7.2%YoY, following a 6.5%YoY rise in the prior month.

SERBIA: Prime Minister Aleksandar Vucic said on Thursday that the government is currently in talks with the IMF to extend a deadline for selling 16 loss-making state-owned companies, outlined under the country’s 3-year €1.2bn loan deal.

CESEE MARKETS: The majority of emerging stock markets kicked off Friday’s session on a positive footing amid hopes that Chinese authorities will adopt further stimulus measures in order to support the domestic economy. Regional government bonds alsorecovered ground in European trade on Friday, while most CEESE currencies were little changed in early European trade on Friday, remaining though off yesterday’s multi-session lows.

Viewers can read the full report herebelow:

Daily Overview May 8, 2015

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