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Tatra banka

20.11.2017 06:45

Economical analyses

  • Austria: disappointing business cycle dynamics
  • CEE: mixed picture of robust growth in CE and recession in Russia and Ukraine
  • ATX target: 2,380 points until year-end
  • Industries in focus: industrials, financials, oil and gas
  • Euro area: economic growth suffers from lack of reforms and geopolitical conflicts
  • Central Banks: Fed starts rate hikes in 2015, ECB remains expansive
  • EUR/USD: dollar remains in upswing
  • Global equity market not (yet) in a period of exaggeration
  • Asset allocation: equities remain the more attractive investment form
  • Euro area: low inflation, but no risk for deflation
  • Central banks: Fed on the brakes, ECB hits the gas
  • EUR/USD: euro under pressure
  • Earnings potential on equity markets still given
  • EM equity markets close the gap
  • Asset growth in CEE continues to be stronger than in euro area
  • Clear upturn of banking business in CE continues
  • Refocusing of country strategies instead of large M&A activities
  • Risk discipline pays off; CEE NPL ratio at around 9 per cent
  • Double-digit RoE possible in CEE banking
  • Enlargement of 2004 increased competitiveness in Central Europe
  •  “East-West-divide” inside the EU is outdated
  • Austria profits as a leading investor in Central Europe
  • Economic recovery despite geopolitical tensions
  • Central banks stay the course
  • EUR/USD: plenty of room for USD appreciation
  • Growth optimism on global markets
  • Balanced equity vs. bond weighting
  • Austria: moderate economic recovery goes according to plan
  • CIS: geopolitical tensions as a negative factor
  • CE defends leading position in the region;SEE remains stable
  • ATX target: roughly 2,700 points until year-end
  • Industries in focus: banks, insurance companies, industrials and energy

In Europe, but also globally, 2014 is marked by growth recovery. For the Eurozone, the new year will not only bring a multitude of new regulations under Basel III but with Latvia also a new member state.