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3 个月前
CEE MARKETS-Stocks, currencies extend gains ahead of GDP data
2017年5月15日 / 上午9点29分 / 3 个月前

CEE MARKETS-Stocks, currencies extend gains ahead of GDP data

    * Stock indices at multi-year high before profit-taking
    * Strong Q1 GDP data expected, corporate earnings healthy
    * Forint, Czech crown touch 5-week highs

    By Sandor Peto
    BUDAPEST, May 15 (Reuters) - Central European stocks touched
multi-year highs on Monday on expectations that first-quarter
regional economic output data due on Tuesday will show robust
growth, though profit-taking later caused shares to retreat.   
    Budapest's main stock index rose to nine-year highs,
extending gains from a record high close on Friday.
Profit-taking set in just after 0800 GMT. The index was up 0.2
percent. 
    Solid first-quarter earnings reported by the region's banks
and other sectors are helping optimistic mood.
    Hungarian lender OTP, Central Europe's biggest
independent bank, announced a bigger-then-expected profit rise
last week. This helped the stock reach two-month highs though it
gave up some of its gains on Monday.
    The forint and the Czech crown hit 5-week highs
against the euro, with the Hungarian currency trading on the
firmer side of its key 310 line.
    "After an initial (downwards) correction, OTP and (oil
group) MOL can lead the rise further," Equilor
brokerage chief analyst Monika Kiss said in a note.
    Hungary is expected to report 3.35 percent annual economic
growth for the first quarter on Tuesday, Poland and Romania
around 4 percent rise, and according to analysts' estimate Czech
growth picked up to above 2 percent.
    Prague's main stock index touched a 21-month high.
    State-owned gaz producer Romgaz shares
firmed 1.25 percent after it said will start production in 2019
at a newly discovered gas field, its biggest find in three
decades.
    The leu lagged behind a firming of other regional
units.
    Investors have been worried that the leftist Romanian
government's drive to boost wages and cut taxes could widen the
country's budget deficit and lift inflation.
    Romanian central bank Governor Mugur Isarescu said on Monday
that the impact of excess demand in the economy on inflation was
not intense.
    His counterparts in the region have not expressed any
concern over inflation, which retreated last month after rising
rapidly since 2016.
    The zloty firmed 0.15 percent against the euro and Warsaw's
bluechip stock index rose half a percent. In the past
weeks the currency and the index have been hovering near their
highest levels since mid-2015.
    
             CEE        SNAPS   AT  1004          
             MARKETS    HOT    CET           
                        CURRENCIES                
                        Lates  Previ  Daily  Chang
                        t      ous           e
                        bid    close  chang  in
                                      e      2017
 Czech                  26.54  26.58   +0.1  1.73%
 crown                     80     05     2%  
 Hungary                309.5  309.9   +0.1  -0.23
 forint                   200    650     4%      %
 Polish                 4.210  4.217   +0.1  4.59%
 zloty                      5      0     5%  
 Romanian               4.547  4.548   +0.0  -0.26
 leu                        0      0     2%      %
 Croatian               7.434  7.428  -0.07  1.63%
 kuna                       0      5      %  
 Serbian                123.0  123.2   +0.1  0.25%
 dinar                    400    000     3%  
 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                 1018.  1017.   +0.0   +10.
                           07     96     1%    47%
 Budapest               34293  34435  -0.41   +7.1
                          .72    .53      %     6%
 Warsaw                 2380.  2368.   +0.5   +22.
                           26     50     0%    19%
 Bucharest              8422.  8407.   +0.1   +18.
                           57     67     8%    88%
 Ljubljana              777.1  782.6  -0.71   +8.3
                            2      8      %     0%
 Zagreb                 1884.  1885.  -0.02  -5.52
                           71     17      %      %
 Belgrade    <.BELEX15  723.8  725.9  -0.29   +0.9
             >              3      0      %     0%
 Sofia                  655.9  654.9   +0.1   +11.
                            6      7     5%    86%
                        BONDS                     
                        Yield  Yield  Sprea  Daily
                                      d      
                        (bid)  chang  vs     chang
                               e      Bund   e in
 Czech                                       sprea
 Republic                                    d
   2-year    <CZ2YT=RR  -0.02  0.106   +065   +11b
             >              8           bps     ps
   5-year    <CZ5YT=RR      0  0.028   +032   +2bp
             >                          bps      s
   10-year   <CZ10YT=R  0.819      0   +041  -1bps
             R>                         bps  
 Poland                                           
   2-year    <PL2YT=RR  1.973  -0.02   +265  -2bps
             >                     5    bps  
   5-year    <PL5YT=RR  2.776  0.005   +309   +0bp
             >                          bps      s
   10-year   <PL10YT=R  3.317  0.009   +291  -1bps
             R>                         bps  
             FORWARD    RATE   AGREEMENT          
                        3x6    6x9    9x12   3M
                                             inter
                                             bank
 Czech Rep           <   0.36   0.44   0.54      0
             PRIBOR=>                        
 Hungary             <    0.2   0.25   0.33   0.16
             BUBOR=>                         
 Poland              <   1.76   1.77  1.815   1.73
             WIBOR=>                         
 Note: FRA   are for                              
 quotes      ask                             
             prices                          
 

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