WORLD ECONOMIC & MARKET DEVELOPMENTS
GLOBAL MARKETS: The ECB’s Governing Council meets later today and is widely expected to stay put on its monetary policy. OPEC also convenes today and a potential output ceiling is expected to be an issue of discussions. On the data front, focus is on the US’ ADP employment report ahead ofFriday’s key non-farm payrolls data for the month of May.
GREECE: Aiming at a swift fulfillment of the remaining open issues attached to the review, the Greek government reportedly submitted to the Hellenic Parliament late yesterday a series of draft amendments on the recently approved omnibus bills that incorporate the legislative laws required for the implementation of all prior actions. The relevant draft bill is reportedly expected to come for vote by the end of the week, a development that is anticipated to open the way for the release of the €7.5bn sub-tranche. In other news, Greece’s manufacturing activity shrank for the fourth month in a row in May with the seasonally adjusted Markit manufacturing Purchasing Managers’ Index (PMI) falling to 48.4 from April’s 49.7.
SOUTH EASTERN EUROPE
CESEE MARKETS: The majority of emerging market stocks treaded water in European trade on Thursday as caution prevailed ahead of upcoming key data releases from the US this week as well as in view of the ECB’s monetary meeting and a meeting of the Organization of the Petroleum Exporting Countries (OPEC), both due today.
Viewers can log on and read the full report herebelow: Daily Overview June 2 2016