.
Daily Overview of Global Markets & the SEE Region (Wednesday, 29 May, 2019)
HIGHLIGHTS
WORLD ECONOMIC & MARKET DEVELOPMENTS
GLOBAL MARKETS:  European bourses were mostly down in early trade today, taking their cue from Asian equity markets’ negative tone, while US stock index futures point to a lower opening, amid mounting worries over the global growth outlook following recent poor PMI releases for May across the globe. Meanwhile, the US/China trade dispute shows no signs of easing, while political uncertainty in Europe prevails after the European Parliament election result leaves a more fragmented parliament. In addition, market worries are mounting over a new confrontation between Italy and the European Commission, following yesterday’s Bloomberg reports that the European Commission is considering proposing a disciplinary procedure for Italy over its failure to rein in public debt. Global equity markets’ lackluster performance favored USTs and German Bunds, while, in FX markets, major pairs were still standing within tight trading ranges.
GREECE: The date for the general elections has been set at 7 July. Meanwhile, the leader of the party ‘POTAMI’, Stavros Theodorakis resigned due to poor results in the European Parliament (EP) and the party may not participate in the upcoming general elections. On the economic data front, according to the Bank of Greece, in April 2019, deposits by the private sector increased by €1,5 billion while the monthly net flow of credit to the private sector was negative at €314 million. In May 2019, the Economic Sentiment Indicator rose by 0.5 points backed by higher expectations in industry (+0.7), services (+1.7) and among consumers (+1.4) while sentiment cooled down in both retail (-2.1) and building activity (-4.1).
SOUTH EASTERN EUROPE
TURKEY:Â Economic confidence slid to the lowest level of the past eight months.
 Viewers can log herebelow and read the full report: Daily Overview MAY 29 2019 (003)
Find out more about our Economic Research and search for reports that may interest you.
