Major stock market indices across South Eastern Europe closed Monday’s session with gains, after the European Central bank announced plans to raise interest rates by 25 basis points at its July monetary meeting, with the goal of bringing inflation down to 2%. Investors had worried that sharper rate hikes might be on the docket, sparking recession concerns. European Central Bank President Christine Lagarde said that the central bank is monitoring the risks of a recession, particularly the effects of oil supply shortages and excess on the eurozone’s economy. However, the ECB’s president highlighted that “a recession is not a baseline scenario for the euro area.”
1. ATHENS – ATHEX 0.78%
2. BELGRADE – BELEX15 2.01%
3. BUCHAREST – BET 1.51%
4. ISTANBUL – BIST 100 0.23%
5. LJUBJLANA – SBITOP 0.35%
6. NICOSIA – CSE GI -1.55%
7. PODGORICA – MNSE 10 0.97%
8. SARAJEVO – SASX10 -0.10%
9. SKOPJE – MBI 10 -0.90%
10. SOFIA – SOFIX -0.00%
11. ZAGREB – CROBEX -0.49%
