From Anita Komuves
BUDAPEST, Aug 7 (Reuters) – Many Central European resources
moved sideways on Friday with Hungary’s stock market bucking the
trend, driven higher by stocks of OTP Bank that
reported a gain for its next quarter and was optimistic about
the economic recovery.
Budapest’s stock index gained 1% as OTP surged 2.9%
by 0916 GMT, after it posted a profit of 78.7 billion Hungarian
forints ($269.06 million) in Q2 and said risks costs would fall
in the second half of the year.
Other bourses in the region fell slightly or moved sideways
as U.S.-China tensions weighed on sentiment after U.S. President
Donald Trump issued bans on popular Chinese apps. Warsaw
slid 0.33% by 0930 GMT.
The Czech crown extended its losses after the
central bank’s decision on Thursday to keep rates unchanged. The
currency was 0.18% down on the day at 26.312 per euro, off the
maximum below 26.100 reached earlier this week.
Governor Jiri Rusnok mentioned uncertainty surrounding the
growth outlook and said it was hard to see a return to
tightening policy before the middle of next year.
“Rusnok’s statement suggested that it is essentially an
optimistic scenario, which may point to future reluctance to
tighten policy,” Komercni Banka said.
Elsewhere, the Hungarian forint edged down 0.04%
to 346.25 versus the common currency.
“Recently published financial data in the U.S., Germany and
Hungary have been better than expected, but infection numbers
are going up,” an FX trader in Budapest stated.
“This, combined with thin summer trade, has led to this
forint being stuck between 344 and 347 per euro for more than a
week.”
The Polish zloty was little moved, trading at
4.4100 to the euro. The Romanian leu was also stable,
trading at 4.8375 per euro after the central bank unexpectedly
cut its benchmark interest rate by 25 basis points to 1.50% on
Wednesday.
A Reuters poll on Thursday forecast most currencies in the
area would gain in the coming year as worries about that a rise in
new coronavirus cases diminish and hopes for economic recovery
grow.
CEE SNAPSHO AT
MARKETS T 1041
CET
CURRENC
IES
Latest Previou Daily Change
s
bid close change in
2020
EURCZK= Czech <EURCZK= 26.3120 26.2650 -.18% -3.34%
crown >
EURHUF= Hungary <EURHUF= 346.250 346.100 -0.04% -4.36%
forint > 0 0
EURPLN= Polish <EURPLN= 4.4100 4.4108 +0.02% -3.48%
zloty >
EURRON= Romanian <EURRON= 4.8375 4.8360 -0.03% -1.02%
leu >
EURHRK= Croatian <EURHRK= 7.4590 7.4613 +0.03% -0.18%
kuna >
EURRSD= Serbian <EURRSD= 117.500 117.600 +0.09% +0.06
dinar > 0 0 %
Note: calculated from 1800
daily CET
change
Latest Previou Daily Change
s
close change in
2020
.PX Prague 908.23 906.520 +0.19% -18.59
0 %
.BUX Budapest 35768.7 35427.8 +0.96% -22.38
2 2 %
.WIG20 Warsaw 1817.14 1818.64 -0.08% -15.49
%
.BETI Bucharest 8583.85 8586.78 -0.03% -13.97
%
.SBITOP Ljubljana <.SBITOP 836.84 839.32 -0.30% -9.61%
>
.CRBEX Zagreb 1593.55 1589.98 +0.22% -21.01
%
.BELEX1 Belgrade <.BELEX1 667.68 667.92 -0.04% -16.72
5 5> %
.SOFIX Sofia 434.53 433.08 +0.33% -23.52
%
Yield Yield Spread Daily
(bid) change vs Bund change
in
Czech spread
Republic
CZ2YT=R 2-year <CZ2YT=R 0.0710 0.0250 +077bp +2bps
R R> s
CZ5YT=R 5-year <CZ5YT=R 0.3430 -0.0110 +106bp -1bps
R R> s
CZ10YT= 10-year <CZ10YT= 0.8270 0.0140 +136bp +2bps
RR RR> s
Poland
PL2YT=R 2-year <PL2YT=R 0.1270 0.0000 +082bp -1bps
R R> s
PL5YT=R 5-year <PL5YT=R 0.6600 -0.0080 +138bp -1bps
R R> s
PL10YT= 10-year <PL10YT= 1.2750 -0. ) 0010 +181bp +1bps
RR RR> s
FORWARD
3×6 6×9 9×12 3M
interb
ank
Czech Rep 0.33 0.33 0.35 0.34
<PRIBOR=
>
Hungary 0.62 0.60 0.60 0.60
Poland 0.18 0.16 0.15 0.23
Notice: FRA are for ask
quotes prices
**********************************************
****************
($1 = 292.5000 forints)
(Additional reporting by Robert Muller in Prague; Editing by
Krishna Chandra Eluri)
Our Standards:The Thomson Reuters Trust Principles.
