WORLD ECONOMIC & MARKET DEVELOPMENTS
GLOBAL MARKETS: The majority of European bourses were little changed in early trade on Thursday as market participants seem to adopt a cautious stance ahead of ECB President Mario Draghi’s speech before the European Parliament later today. In FX markets, the AUD was among the main outperformers supported by firmer-than-expected employment data.
GREECE: Speaking to reporters yesterday, Minister of Economy, Development and Tourism Giorgos Stathakis appeared optimistic that all outstanding prior actions for the release of the next ESM loan installment (€2bn) will have been settled bySaturday (November 14). In other news, Eurobank announced earlier today the launch of its book building process and subscription commitments of about €353mn from institutional investors with the option to increase their subscription up to a total amount of €584mn.
SOUTH EASTERN EUROPE
ROMANIA: Deflationary pressures somewhat eased on an annual basis in October. In more detail, CPI came in at +0.3%MoM/-1.6%YoY, vs. +0.3%MoM/-1.7%YoY in September compared to -0.5%MoM/-1.9%YoY in August, in line with market expectations.
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