South East European stocks fell on Friday after the European Central Bank warned of possible rate hikes during the September meeting. Investors also reacted to a hotter-than-expected U.S. inflation print. U.S. headline inflation hit 8.6% year-on-year. Some economists and market participants had expected the data to show inflation had peaked in May, but the report indicated otherwise. In Romania, the annual inflation rate jumped to 14.49% from 13.76% in the prior month, data from the country’s statistics board INS showed. This was the highest reading since November 2003. The International Monetary Fund (IMF) warned the Romanian government that it must take fiscal measures and reform and boost taxes in order to rebuild the fiscal space below 3% of gross domestic product (GDP) and thus lean against deteriorating financing conditions.
1. ATHENS – ATHEX -2.72%
2. BELGRADE – BELEX15 -0.38%
3. BUCHAREST – BET -1.01%
4. ISTANBUL – BIST 100 -0.69%
5. LJUBJLANA – SBITOP -0.60%
6. NICOSIA – CSE GI -1.27%
7. PODGORICA – MNSE 10 0.42%
8. SARAJEVO – SASX10 0.85%
9. SKOPJE – MBI 10 Closed
10. SOFIA – SOFIX -0.04%
11. ZAGREB – CROBEX -0.09%
