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2 个月内
CEE MARKETS-Bucharest stocks hit 9-year high on earnings reports, IPO
2017年5月11日 / 上午9点42分 / 2 个月内

CEE MARKETS-Bucharest stocks hit 9-year high on earnings reports, IPO

7 分钟阅读

    * Stocks rise, earnings reports have been positive
    * Bucharest stocks at 9-year high, partly on Digi IPO
    * Romanian inflation rises, leu underperforms

    By Sandor Peto
    BUDAPEST, May 11 (Reuters) - Stocks hit a 9-year high in
Bucharest and a 20-month high in Prague on Thursday as Central
European equities were buoyed by good corporate earnings reports
and a major IPO in Romania.
    Cable and internet provider Digi Communication N.V. closed
one of the biggest initial public offerings (IPO) in the history
of the Bucharest bourse on Wednesday.
    The index gained half a percent, led by 1.2 percent
rise in OMV Petrom, Romania's top oil and gas firm
which reported a surge in first-quarter net profits.

    Earnings reports in the region and comments from companies
about their outlook have so far exceeded expectations, and
helped the index of Warsaw-listed banks hit a 2-year
high earlier this week.
    Warsaw's bluechip index led regional gains, rising
1.1 percent, driven by PKO BP bank, insurer PZU
 and copper producer KGHM, helped by a rebound
in copper prices.
    Prague's index hit a 20-month high despite an ongoing
Czech government crisis, after a batch of upbeat earning reports
from firms including energy group CEZ and Moneta Bank
.
    Slovenia's Krka, one of the region's biggest drug
makers, gained 1.4 percent after the firm reported a rise in
first-quarter net profits.
    In currency markets, the volatile Czech crown
retreated and the forint stayed near one-months highs
which they reached against the euro on Wednesday.
    The zloty was steady near 20-month highs.
    Regional currencies have been buoyed in the past days by
increased appetite for emerging market assets, a closing of
short positions opened before France's presidential elections,
and robust domestic economic data.
    The zloty might have received additional support for some
speculation that the Polish central bank may shift towards more
hawkish rhetoric at its meeting later this month, said Wolfgang
Ernst, analyst of Raiffeisen, in a note.
    "Given our take that the central bank will stick to its
wait-and-see stance and not hike rates in 2017 we would not
expect to see additional zloty strength," he added.
    The leu has been clearly underperforming regional
peers due to worries that a government drive to lift wages could
boost the budget deficit and inflation. It traded steady at 4.55
against the euro, near 6-week lows touched on Wednesday.
    Romanian inflation is still low in regional terms, but a
rebound to an annual rate of 0.6 percent in April, reported on
Thursday, "suggests that inflationary pressures are starting to
become more visible", ING analysts said in a note. 
    
             CEE        SNAPS   AT  1034          
             MARKETS    HOT    CET           
                        CURRENCIES                
                        Lates  Previ  Daily  Chang
                        t      ous           e
                        bid    close  chang  in
                                      e      2017
 Czech                  26.58  26.57  -0.02  1.61%
 crown                     00     50      %  
 Hungary                310.5  310.6   +0.0  -0.55
 forint                   400    650     4%      %
 Polish                 4.218  4.216  -0.04  4.41%
 zloty                      0      3      %  
 Romanian               4.550  4.551   +0.0  -0.33
 leu                        0      1     2%      %
 Croatian               7.417  7.418   +0.0  1.86%
 kuna                       0      5     2%  
 Serbian                123.0  123.1   +0.0  0.24%
 dinar                    600    550     8%  
 Note:       calculate  previ  close  1800        
 daily       d from     ous    at     CET    
 change                                      
                        STOCK                     
                        S                    
                        Lates  Previ  Daily  Chang
                        t      ous           e
                               close  chang  in
                                      e      2017
 Prague                 1015.  1010.   +0.5   +10.
                           89     02     8%    23%
 Budapest               33736  33666   +0.2   +5.4
                          .97    .28     1%     2%
 Warsaw                 2406.  2380.   +1.1   +23.
                           88     25     2%    56%
 Bucharest              8360.  8319.   +0.4   +18.
                           80     66     9%    01%
 Ljubljana              784.0  781.6   +0.3   +9.2
                            9      1     2%     7%
 Zagreb                 1898.  1897.   +0.0  -4.83
                           51     07     8%      %
 Belgrade    <.BELEX15  727.9  724.8   +0.4   +1.4
             >              3      8     2%     7%
 Sofia                  655.7  658.0  -0.35   +11.
                            3      6      %    82%
                        BONDS                     
                        Yield  Yield  Sprea  Daily
                                      d      
                        (bid)  chang  vs     chang
                               e      Bund   e in
 Czech                                       sprea
 Republic                                    d
   2-year    <CZ2YT=RR  -0.02   0.11   +062   +10b
             >              3           bps     ps
   5-year    <CZ5YT=RR  0.021  0.028   +029   +0bp
             >                          bps      s
   10-year   <CZ10YT=R  0.818      0   +037  -4bps
             R>                         bps  
 Poland                                           
   2-year    <PL2YT=RR  1.984  -0.00   +263  -2bps
             >                     8    bps  
   5-year    <PL5YT=RR  2.853  0.021   +313   +0bp
             >                          bps      s
   10-year   <PL10YT=R   3.41  -0.00   +296  -5bps
             R>                    8    bps  
             FORWARD    RATE   AGREEMENT          
                        3x6    6x9    9x12   3M
                                             inter
                                             bank
 Czech Rep           <   0.34   0.41    0.5      0
             PRIBOR=>                        
 Hungary             <    0.2   0.27   0.37   0.16
             BUBOR=>                         
 Poland              <  1.751   1.79  1.819   1.73
             WIBOR=>                         
 Note: FRA   are for                              
 quotes      ask                             
             prices                          
 

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