Stocks in South East Europe were lower on Thursday as investor sentiment soured, amid global recession worries and aggressive U.S. rate hikes. On the data front, flash estimates of French and German PMI (purchasing managers index) readings for June came in weaker than expected, adding to recession fears. The broader euro zone PMI which combines data from the currency bloc’s service and
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Risk-off sentiment prevailed on Wednesday with stocks in South East Europe trading mostly in the red. Inflation and interest-rate worries returned to haunt investors as global volatility continues. Eurozone’s consumer confidence dropped by 2.4 points in June compared to May, according to a preliminary report by the European Commission on . In the whole European Union, confidence was down by 1.9 points.
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Equities in South East Europe turned in a mixed performance on Tuesday as concerns about aggressive interest rate hikes and risks of a global recession remain. Central bank leaders and economists around the world have acknowledged that the aggressive tightening that may be necessary to rein in inflation could risk tipping economies into recession, with growth already slowing. Bank of England chief
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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
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Risk assets were sharply lower this week in South East Europe in line with rest of the world. Leading central banks doubled down on tighter policy in an effort to tame soaring inflation, setting investors on edge about future economic growth. The US Federal Reserve’s most aggressive rate hike since 1994 raised recession fears while Switzerland’s national bank surprised markets by raising
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Equities in South East Europe head into the weekend mixed, bringing an end to a volatile week. Fears of a recession have grown as the US Federal Reserve cut economic growth forecasts, putting pressure on emerging assets in Europe. Meanwhile Eurozone inflation rose to a record high of 8.1% in May on an annualized basis, Eurostat said in a final reading. In
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South East European stock markets ended Thursday’s trading session with losses, as hawkish policy actions from central banks fueled worries of a possible recession. The US Federal Reserve raised rates by 75bps yesterday in a desperate bid to control inflation, while presenting dismal economic forecasts. The European Central Bank last week announced its intention to hike the rate by a quarter point
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