Stocks in South East Europe closed mostly in the green on Wednesday, bucking the trend across Europe where stocks fell in cautious trade as the World Bank and the Organization for Economic Cooperation and Development slashed global growth forecasts.
“The war in Ukraine, lockdowns in China, supply-chain disruptions, and the risk of stagflation are hammering growth. For many countries, recession will be hard to avoid,” World Bank President David Malpass said.
“[H]igher commodity prices… add to inflationary pressures and curb real incomes and spending, further dampening the recovery,” the OECD said in its June 2022 Economic Outlook.
Investors also looked ahead to the European Central Bank (ECB) meeting due on Thursday. The Frankfurt-based institution is set to draw a line under its massive bond-buying stimulus program and signal its first-rate hike in over a decade.
1. ATHENS – ATHEX 0.23%
2. BELGRADE – BELEX15 -0.60%
3. BUCHAREST – BET 0.12%
4. ISTANBUL – BIST 100 -4.10%
5. LJUBJLANA – SBITOP 0.14%
6. NICOSIA – CSE GI 0.62%
7. PODGORICA – MNSE 10 0.19%
8. SARAJEVO – SASX10 1.31%
9. SKOPJE – MBI 10 -0.66%
10. SOFIA – SOFIX 0.53%
11. ZAGREB – CROBEX 0.06%
