Market growth outlook revised as Eastern European equities rise

Eastern European equity markets have risen strongly this year.

The improving economic backdrop has helped and investor sentiment has recovered as economic growth outlook for the region has been revised up. Indeed, it looks as though some parts of Emerging Europe, specifically Poland central Europe’s largest economy, will not shrink in 2009. Even in Russia, where the GDP contraction has been quite severe this year, we anticipate a V-shaped recovery in the second half of 2009. Co-ordinated action taken by monetary authorities globally has saved the global financial system from collapse, while action taken on a supranational level has underpinned our r...