EU should speed up membership talks with Western Balkans

The Western Balkans Summit, Poznań, Poland (Jakub Szymczuk/KPRP, Public domain)

Poland's gold reserves increased

Trieste to become Hungary’s sea port

Western Balkans

Poland’s President Andrzej Duda, host of the 6th Western Balkans Summit in Poznań (western Poland), criticized the EU for delaying accession talks with Albania and North Macedonia, and urged the bloc to offer the Balkan states a clear path toward the EU membership. “The Balkan states should not be asked to participate in a race where they cannot see the finish line,” Mr. Duda stressed.

German Chancellor Angela Merkel reassured Western Balkan nations that support for their membership in the European Union remains strong, stressing that it is in the bloc’s “strategic interest” to bring in the new members. Merkel said that concerns expressed by French President Emmanuel Macron that the countries’ governance mechanisms become more efficient should not delay accession talks.

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Poland

Poland’s gold reserves increased by 125.7 tons y/y, up to 228.6 tons, the central bank, NBP informed. In its statement NBP said that thanks to recent purchases, the country has moved up from 15th to 11th place in Europe in terms of gold reserves, and from 34th to 22nd worldwide. Poland now has more gold reserves than any other country in CSE.

“I’m proud and deeply touched that during my term, and in the year in which we celebrate the centenary of Polish independence, as a foundation of the economic strength of our country, it has been possible to increase the strategic reserves of gold and undertake actions with the aim of repatriating a significant portion of Poland’s gold,” NBP Governor, Prof. Adam Glapinski said.

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Hungary

The Italian city of Trieste is set to become Hungaryʼs starting point for overseas exports, with Hungary about to create a port and logistics base there, the Hungarian government informed. Hungary has purchased a 32 hectare plot for EUR31m, Péter Szijjártó, the Foreign Affairs and Trade Minister, said during a joint press conference with Italian Interior Minister Matteo Salvini.

Investments worth close to EUR100m will be carried out at the site, Mr. Szijjártó added. The project also aims to create an infrastructure allowing Hungarian companies to access the sea via road or railways in 24 hours.

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What’s up in indexes

BET (of Bucharest) increased from 8913.47 index points Thursday, July 4th to 8967.08 index points Friday, July 5th. It’s up 0.56 per cent d/d and up 14.7 per cent y/y.

BUX (of Budapest) increased from 40936.00 index points Thursday, July 4th to 41016.65 index points Friday, July 5th. It’s up 0.11 per cent d/d and up 12.9 per cent y/y.

OMXR (of Riga) increased from 1008.25 index points Thursday, July 4th to 1016.87 index points Friday, July 5th. It’s up 0.85 per cent d/d and down 2.02 per cent y/y.

OMXT (of Tallinn) increased from 1259.43 index points Thursday, July 4th to 1261.29 index points Friday, July 5th. It’s up 0.15 per cent d/d and up 0.17 per cent y/y.

OMXV (of Vilnius) increased from 671.78 index points Thursday, July 4th to 675.98 index points Friday, July 5th. It’s up 0.61 per cent d/d and down 4.51 per cent y/y.

Friday, July 5th was a non-trading day at Prague Stock Exchange. PX (of Prague) closed at 1052.10 index points Thursday, July 4th. It’s down 2.36 per cent y/y.

RTS (of Moscow) decreased from 1409.23 index points Thursday, July 4th to 1398.75 index points Friday, July 5th. It’s down 0.91 per cent d/d and up 19.4 per cent y/y.

Friday, July 5th was a non-trading day at Bratislava Stock Exchange. SAX (of Bratislava) closed at 347.09 index points Thursday, July 4th. It’s up 5.07 per cent y/y.

SOFIX (of Sofia) decreased from 582.20 index points Thursday, July 4th to 580.70 index points Friday, July 5th. It’ down 0.27 per cent d/d and down 7.75 per cent y/y.

UX (of Kyiv) closed at 1627.73 index points Friday, July 5th. It’s the same result as Thursday’s. It’s 0 per cent change d/d and up 4.42 per cent y/y.

WIG20 (of Warsaw) decreased from 2354.57 index points Thursday, July 4th to 2342.01 index points Friday, July 5th. It’s down 0.61 per cent d/d and up 8.60 per cent y/y.

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