WOOD Flash – EEMEA macro: early takes on the Iran conflict
Even though it is still the early hours, we think that it could be useful to frame the likely channels into our region. Direct and indirect macro impacts from the Iran conflict and the Strait of Hormuz disruption risk are transmitted primarily through: i) a higher oil price; and ii) a war-risk “delivered cost” wedge (insurance, freight, delays). Brent has jumped by USD 5/bbl to USD 75/bbl, which would, if sustained throughout the whole year, shift our inflation forecasts to our “high energy cost scenario”, which assumes crude prices up to USD 80/bbl and higher gas prices, at the same time. We underscore that our inflation projections have built in some transitory risks for energy this year already, so the events over the past weekend do not necessitate a change of forecasts immediately.
WOOD & Company is the leading investment bank in Emerging Europe. Founded in 1991 and head-quartered in Prague, our footprint spans the region and touches investors around the globe.
A pioneer in Emerging Europe, WOOD executed many of the first CEE equity trades and landmark investment banking transactions. Our electronic trading platform was the first in the region, and remains the best. We are continually expanding our relevance and reach in these ever-evolving markets.
Our equity market share reflects our stature: 7% in Warsaw, 20% in Bucharest, 16% in Hungary, 40% in Prague and 5% in Vienna. Our distribution is unparalleled, with the largest salesforce in the region, servicing a uniquely diverse investor base.
We couple local expertise with a truly international perspective. With offices on the ground in the region, and in key financial hubs such as London and Milano, we are never far from our clients and we remain at the forefront of what’s afoot in the CEE emerging and frontier landscape.
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