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CEE MARKETS-Romanian stocks fall after proposal for pension reform
2017年9月8日 / 上午10点14分 / 12 天前

CEE MARKETS-Romanian stocks fall after proposal for pension reform

    * Romania may make pension funds optional from 2018
    * Romanian stocks fall, underperforming region
    * Currency markets calm, getting no clues from ECB
    * Bonds firm as ECB keeps asset-buying programme

    By Sandor Peto and Luiza Ilie
    BUDAPEST, Sept 8 (Reuters) - Stocks fell in Bucharest on
Friday, underperforming Central European shares, after the
Romanian government said it may make a mandatory pension scheme
optional starting next year.
    Making them optional would probably reduce investments by
the funds, whose assets totalled 36.06 billion lei ($9.46
billion) at the end of June.
    Bucharest's main equities index fell 2.5 percent by
1019 GMT. Shares of investment fund Fondul Proprietatea,
fell 2.3 percent after it said on Thursday that it might sell
its 20 percent stake in hydro-power company Hidroelectrica
.
    The Bucharest exchange has risen 10 percent since the end of
2016, underperforming Warsaw and Budapest this
year, partly due to worry about the future of the pension
system.
    The leu ignored the possible pension reform and
traded little changed at l4.6 to the euro - like most Central
European currencies, around its typical level of recent weeks.
The forint was trading around 306 to  the euro, the
Czech crown at 26.1 and the zloty at 4.25.
    Bonds gained after the European Central Bank gave no sign it
was ready to wind down asset-buying programme. Polish and
Hungarian government debt extended the week's gains, and thee
yield on Hungarian 10-year bonds dropped 6 basis points to 2.86
percent.
    "We are firming ... The Fed will be unwilling to do anything
because due to the storms there, and the ECB due to the euro's
 strength," one Budapest-based fixed income trader said.
    
               CEE MARKETS  SNAPSH   AT  1119 CET         
                            OT                      
                            CURRENCIES                    
                            Latest  Previo  Daily   Change
                                    us              
                            bid     close   change  in
                                                    2017
 Czech crown                26.097  26.158   +0.23   3.49%
                                 0       0       %  
 Hungary                    306.30  305.42  -0.29%   0.82%
 forint                         00      00          
 Polish zloty               4.2510  4.2503  -0.02%   3.60%
 Romanian leu               4.5990  4.5990   +0.00  -1.39%
                                                 %  
 Croatian                   7.4300  7.4325   +0.03   1.68%
 kuna                                            %  
 Serbian                    119.50  119.55   +0.04   3.22%
 dinar                          00      00       %  
 Note: daily   calculated   previo  close   1800          
 change        from         us      at      CET     
                            STOCKS                        
                            Latest  Previo  Daily   Change
                                    us              
                                    close   change  in
                                                    2017
 Prague                     1020.3  1019.1   +0.11   +10.7
                                 2       5       %      1%
 Budapest                   37608.  37783.  -0.46%   +17.5
                                98      51              2%
 Warsaw                     2487.2  2491.7  -0.18%   +27.6
                                 4       9              9%
 Bucharest                  7781.4  7978.6  -2.47%   +9.83
                                 9       2               %
 Ljubljana                  811.35  813.87  -0.31%   +13.0
                                                        7%
 Zagreb                     1882.7  1883.6  -0.05%  -5.62%
                                 1       7          
 Belgrade                   727.50  729.28  -0.24%   +1.41
                                                         %
 Sofia                      701.72  705.87  -0.59%   +19.6
                                                        6%
                            BONDS                         
                            Yield   Yield   Spread  Daily
                            (bid)   change  vs      change
                                            Bund    in
 Czech                                              spread
 Republic                                           
   2-year                        0   0.022   +075b   +1bps
                                                ps  
   5-year                   -0.045       0   +032b   -2bps
                                                ps  
   10-year                   0.924   0.027   +060b   +0bps
                                                ps  
 Poland                                                   
   2-year                    1.662   -0.02   +241b   -4bps
                                                ps  
   5-year                    2.508   0.016   +288b   -1bps
                                                ps  
   10-year                   3.144  -0.005   +282b   -3bps
                                                ps  
               FORWARD      RATE    AGREEMENT             
                            3x6     6x9     9x12    3M
                                                    interb
                                                    ank
 Czech Rep             <PR     0.7     0.8    0.89       0
               IBOR=>                               
 Hungary               <BU   0.155   0.165     0.2    0.15
               BOR=>                                
 Poland                <WI   1.755    1.79   1.802    1.73
               BOR=>                                
 Note: FRA     are for ask                                
 quotes        prices                               
 

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