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CEE MARKETS-Stocks rise, FTSE Russell to promote Poland to developed market
2017年10月2日 / 上午9点55分 / 19 天内

CEE MARKETS-Stocks rise, FTSE Russell to promote Poland to developed market

    * Polish shares get help from FTSE Russell reclassification
    * Renewed dlr strength keep fx under pressure despite good
PMIs
    * Hungarian bonds lead yields rise, tracking euro zone
    * Crown hovers around 26/euro after robust PMI

    By Sandor Peto
    BUDAPEST, Oct 2 (Reuters) - Central European equities rose
on Monday, outperforming Western peers, after index provider
FTSE Russell said it would promote Poland to a developed market
from its advanced emerging class from next year.
    Strong Czech, Hungarian and Polish manufacturing indices
(PMI) may have also provided some help to assets in the region. 
    But demand for the region's currencies was reduced by a
strengthening of the dollar, with Catalonia's independence vote
weighing on the euro.
    FTSE Russel said late on Friday in its annual classification
review that it would move Poland, Central Europe's biggest stock
into the top group of its covered markets. Warsaw stocks
 rose 0.9 percent by 0935 GMT.
    Warsaw regained part of the ground lost last month due to
worries over new proposals for judiciary reform. Politicians in
Brussels and some EU capital have said the reforms could damage
the rule-of-law in Poland.
    The zloty traded on the weaker side of the 4.3 psychological
line against the euro at 4.3155, down 0.1 percent, near
six-and-1/2-month lows touched last week. 
    Poland reported a higher than expected PMI manufacturing
index of 53.7 for September, underpinning that economic growth
remains strong. But the zloty was unable to benefit from the
good figures.
    Hungary, which calculates its own index with different
methodology, reported an even higher figure, at 59.3.
    The forint firmed marginally and stays near its
weakest levels against the euro since May. A new round of
monetary easing measures launched last month has been keeping it
under pressure.
    The measures pushed down Hungarian government debt yields to
record lows, but a rise in debt yields in developed markets
triggered profit-taking since last week, and Hungary's yields
led a regional rise on Monday.
    Its 10-year papers traded at a yield of 2.65 percent, up 7
basis points from Friday's fixing.     
    Budapest's stock index, meanwhile, rose by one
percent, after Sandor Csanyi, the CEO of OTP said that
the region's biggest independent lender planned to buy at least
five banks in the next two years.
    Elsewhere, the Czech Republic also reported a strong PMI
index at a higher-than-expected 56.6.
    The crown danced around the 26 psychological line against
the euro, near its strongest levels since the central bank (CNB)
removed a cap which had kept it weaker than 27. 
    Expectations that the CNB will continue to lift its interest
rates in November buoy the currency, but a huge amount of long
crown positions held by foreigners keeps a lid on the unit.
               CEE MARKETS  SNAPSH   AT  1135 CET         
                            OT                      
                            CURRENCIES                    
                            Latest  Previo  Daily   Change
                                    us              
                            bid     close   change  in
                                                    2017
 Czech crown                25.970  25.994   +0.09   3.99%
                                 0       5       %  
 Hungary                    311.35  311.41   +0.02  -0.81%
 forint                         00      50       %  
 Polish zloty               4.3155  4.3096  -0.14%   2.05%
 Romanian leu               4.5880  4.5999   +0.26  -1.16%
                                                 %  
 Croatian                   7.4990  7.4925  -0.09%   0.75%
 kuna                                               
 Serbian                    119.06  119.20   +0.12   3.60%
 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                     1049.7  1045.1   +0.44   +13.9
                                 3       7       %      0%
 Budapest                   37663.  37290.   +1.00   +17.6
                                36      65       %      9%
 Warsaw                     2475.3  2453.4   +0.89   +27.0
                                 9       6       %      8%
 Bucharest                  7900.3  7877.9   +0.28   +11.5
                                 7       2       %      1%
 Ljubljana                  797.41  796.55   +0.11   +11.1
                                                 %      2%
 Zagreb                     1820.6  1811.1   +0.53  -8.73%
                                 3       2       %  
 Belgrade                   714.78  720.76  -0.83%  -0.36%
 Sofia                      691.08  688.11   +0.43   +17.8
                                                 %      5%
                            BONDS                         
                            Yield   Yield   Spread  Daily
                            (bid)   change  vs      change
                                            Bund    in
 Czech                                              spread
 Republic                                           
   2-year                    0.231   0.034   +092b   +5bps
                                                ps  
   5-year                    0.325   0.066   +060b   +7bps
                                                ps  
   10-year                   1.289   0.082   +083b   +8bps
                                                ps  
 Poland                                                   
   2-year                    1.778   0.002   +247b   +1bps
                                                ps  
   5-year                    2.715       0   +299b   +1bps
                                                ps  
   10-year                    3.38       0   +292b   +0bps
                                                ps  
               FORWARD      RATE    AGREEMENT             
                            3x6     6x9     9x12    3M
                                                    interb
                                                    ank
 Czech Rep             <PR    0.72    0.87    0.97       0
               IBOR=>                               
 Hungary               <BU    0.09    0.13    0.18    0.03
               BOR=>                                
 Poland                <WI    1.79   1.819    1.91    1.73
               BOR=>                                
 Note: FRA     are for ask                                
 quotes        prices                               
 

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