CEE Stocks: Eyeing G-7 Markets

August 2004 | Market Strategy

One of our long-standing views has been our bullish stance on the long-term prospects of CEE bourses. With real GDP and industrial output growth likely to exceed that of the EU-15 over the coming years, we see no reason to alter our position. However, as we anticipated back in early May (see 05 May 2004, CEE Stocks: ST Pain, LT Gain), the recent weakness of G-7 bourses has contributed to the lacklustre performance of the key CEE markets. The Czech PX-50 has still not found the momentum for a sustained break through the key 800 level and the Polish WIG

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