{"id":13137,"date":"2012-08-03T13:58:02","date_gmt":"2012-08-03T11:58:02","guid":{"rendered":"http:\/\/www.myza.co.za\/08\/emerging-markets-stocks-flat-after-ecb-serb-dinar-slumps\/"},"modified":"2012-08-03T13:58:02","modified_gmt":"2012-08-03T11:58:02","slug":"emerging-markets-stocks-flat-after-ecb-serb-dinar-slumps","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/emerging-markets-stocks-flat-after-ecb-serb-dinar-slumps\/","title":{"rendered":"EMERGING MARKETS-Stocks flat after ECB; serb dinar slumps"},"content":{"rendered":"

\t\t<\/span><\/p>\n

LONDON<\/span> Aug 3 (Reuters) – The Serbian dinar fell half a
\npercent on Friday, spooked by the protest resignation of the
\ncentral bank governor, while emerging stocks stayed in negative
\nterritory after the ECB failed to satisfy hopes of swift action
\non the euro crisis.<\/span><\/p>\n

<\/span><\/p>\n

Markets were disappointed that Thursday’s ECB policy meeting
\ndid not result immediately in concrete crisis fighting measures
\nafter Draghi, the bank’s chief, said last week the bank would do
\n“whatever it takes” to preserve the euro.<\/p>\n

<\/span><\/p>\n

“Today the mood is one of disappointment over the ECB. The
\nECB say they will do everything and then do nothing so from that
\nperspective the reaction has actually been muted,” said Lars
\nChristensen, chief emerging markets analyst at Danske Bank.<\/p>\n

<\/span><\/p>\n

Benchmark emerging stocks traded just under flat,
\nhaving pared earlier heavy losses. The index was on course to
\npost losses for the week following a fortnight of gains.<\/p>\n

<\/span><\/p>\n

Chinese stocks rose more than 1 percent, however,
\nbuoyed by property stocks which rebounded on news that the
\nhousing ministry had denied rumours that more curbs would be
\nplaced on the sector.<\/p>\n

<\/span><\/p>\n

Political uncertainty weighed on the Romanian leu
\nand the Serbian dinar.<\/p>\n

<\/span><\/p>\n

The dinar fell 0.5 percent to a one-week low after the
\ngovernor of Serbia’s central bank, Dejan Soskic, resigned on
\nThursday, saying a draft law being debated in parliament
\nthreatened the independence of the bank.<\/p>\n

<\/span><\/p>\n

The dinar has lost almost 10 percent this year versus the
\neuro due to ongoing political turmoil. The news pushed credit
\ndefault swaps 11 bps higher on Thursday to 467 bps according to
\nMarkit. No quotes were available for Friday.<\/p>\n

<\/span><\/p>\n

The leu fell 0.3 percent, approaching recent record lows,
\nafter Romania’s constitutional court delayed a ruling on whether
\na referendum to impeach the country’s president was valid. This
\nreignites concern over the drawn-out tussle.
\n\u00a0 Continued…<\/strong><\/span><\/p>\n

<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

LONDON Aug 3 (Reuters) – The Serbian dinar fell half a percent on Friday, spooked by the protest resignation of the central bank governor, while emerging stocks stayed in negative territory after the ECB failed to satisfy hopes of swift action on the euro crisis. Markets were disappointed that Thursday’s ECB policy meeting did not […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-13137","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/13137","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=13137"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/13137\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=13137"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=13137"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=13137"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}