EME Macro/Strategy: July – cooling tempo
The business and consumer surveys released by the European Commission for July paint a mixed picture for the month, after the remarkably strong June results. In broad terms, we observed that all countries reported at least one segment of the economy turning more cautious during the month and the majority of countries signalled a slight weakening in hiring appetite. The industrial sector has stopped recovering steadily recently and, in July, we continued to see evidence that overall confidence appears to have peaked. Consumer confidence softened, which signals that, while the recovery is broadly moving forward, the combination of high inflationary pressures and the continuing COVID-19 related uncertainty keeps consumer spending on a bias for caution, in our view.
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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