New CEO of the Warsaw Stock Exchange

Marek Dietl, CEO of WSE (Rebelya.TV, Public domain)

EU extended sanctions imposed on Russia

Croatia got rid of excessive deficit procedure

Poland

Marek Dietl has been chosen as a new CEO of Warsaw Stock Exchange (WSE). Mr. Dietl is an economist, with PhD from the Warsaw School of Economics. He has been a financial advisor to Poland’s President Andrzej Duda, an expert of the Business Centre Club and a member of Sobieski Institute. Recently he has served as a member of the board of the WSE.

The Polish Radio cites Dietl saying “One of the ways to build scale is a strategic alliance. I believe that in certain market niches in Central and Eastern Europe there is an opportunity to build strategic alliances.”

Before he takes over the office his nomination has to be approved by the Polish Supervision Authority (KNF).

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Russia

On June 19th the European Commission decided to extend sanctions imposed on Russia. They will last till June 23th, 2018. As the Baltic Course reports, 28 countries decided to ban importing products from Crimea and Sevastopol, stop any European investment or real estate purchases there, and forbid any maritime transport.

“The export of goods and technologies that could be used for transport, telecommunications or in the energy sector, particularly oil, gas or mineral exploration, is also banned,” the Baltic course informs

The sanctions were originally imposed on Russian after annexation of Ukraine’s Crimean Peninsula of 2015.

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Croatia

Croatia decreased its budget deficit below 3 per cent of GDP. The European Council informed that it closed an excessive deficit procedure against Croatia.
See News recalls that Croatia has been “a subject to an excessive deficit procedure since January 2014, when it was found to be in breach of both deficit and debt criteria. The Council issued a recommendation for the deficit to be corrected by 2016, and set targets of 4.6 per cent of GDP for 2014, 3.5 per cent of GDP for 2015 and 2.7 per cent of GDP for 2016.

The country’s general deficit dropped below the target in 2015 (3.4 per cent of GDP) and 2016 (0.8 per cent of GDP). In 2017 it should reach 1.1 per cent of GDP and in 2018 fall to 0.9 per cent of GDP.

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What’s up in indexes

BET (of Bucharest) decreased from 8,467.67 index points Friday, June 16th to 8,412.25 index points Monday, June 19th. It’s down 0.65 per cent d/d and up 29.36 per cent y/y.

BUX (of Budapest) increased from 35,512.47 index points Friday, June 16th to 35,948.41 index points Monday, June 19th. It’s up 1.23 per cent d/d and up 35.33 per cent y/y.

CROBEX (of Zagreb) increased from 1,857.87 index points Friday, June 16th to 1,857.90 index points Monday, June 19th. It’s zero per cent change d/d and up 13.57 per cent y/y.

OMXR (of Riga) increased from 919.74 index points Friday, June 16th to 935.71 index points Monday, June 19th. It’s up 1.74 per cent d/d and up 47.51 per cent y/y.

OMXT (of Tallinn) decreased from 1,130.35 index points Friday, June 16th to 1,129.44 index points Monday, June 19th. It’s down 0.08 per cent d/d and up 17.22 per cent y/y.

OMXV (of Vilnius) decreased from 593.87 index points Friday, June 16th to 593.73 index points Monday, June 19th. It’s down 0.02 per cent d/d and up 16.53 per cent y/y.

PX (of Prague) increased from 990.77 index points Friday, June 16th to 1,004.03 index points Monday, June 19th. It’s up 1.34 per cent d/d and up 19.68 per cent y/y.

SAX (of Bratislava) closed at 309.20 index points index points Monday, June 19th. It’s the same result as Friday’s. It’s zero per cent change d/d and up 0.29 per cent y/y.

SOFIX (of Sofia) increased from 685.12 index points Friday, June 16th to 685.96 index points Monday, June 19th. It’s up 0.12 per cent d/d and up 49.70 per cent y/y.

UX (of Kyiv) increased from 1,026.26 index points Friday, June 16th to 1,038.30 index points Monday, June 19th. It’s up 1.17 per cent d/d and up 54.95 per cent y/y.

WIG20 (of Warsaw) increased from 2,304.50 index points Friday, June 16th to 2,334.27 index points Monday, June 19th. It’s up 1.29 per cent d/d and up 30.13 per cent y/y.

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