June 1, 2020 / 10:35 AM / a month ago

CEE MARKETS-Prague, Warsaw stocks climb near peaks, FX up

    PRAGUE, June 1 (Reuters) - Czech and Polish stocks
approached multi-week highs on Monday and the zloty led currency
gains as less bleak manufacturing surveys and stronger risk
appetite from global investors boosted central European assets.
    Purchasing managers' index data showed central Europe's
manufacturing downturn eased in May, although the readings
remained well below the level dividing contractions from growth
as firms began to emerge from coronavirus lockdowns.

    There were also signs that the worst might be over among
euro zone factories - a vital sign for a region dependent on its
trade with western Europe.
    "The situation in industry and other sectors of the economy
will improve together with the easing of restrictions connected
to the new coronavirus," said Radomir Jac, chief economist for
Generali Investments CEE.
    He said June figures could show a slower drop in output.
    Stocks rose on Monday, with Prague up 1.5% and Warsaw
blue chips adding 0.5%. Both were near their highest
levels seen since early March. 
    The market mood was also boosted by the United States taking
less severe action than feared over a new security law that
China is imposing on Hong Kong.
    Budapest and Bucharest bourses were closed for a holiday.
    Polish banking stocks recovered after suffering following a
surprise interest rate cut last week. 
    On currency markets, the zloty returned to firming
as it again tested 2-1/2 month highs against the euro. 
    At 1007 GMT, it traded up 0.7% at 4.42 to the euro.
    Hungary's forint rose 0.6% and the Czech crown
 was up 0.3% at 26.82 per euro, touching a 1-1/2 month
peak.
    "It's a risk-on mood on the markets," said a Warsaw-based
currency trader. "The sell-off of the dollar is helping the
rally in emerging markets."
 
                   CEE      SNAPSHO   AT                      
                   MARKETS  T        1207              
                                     CET               
                                                              
                   CURRENC                                    
                   IES                                 
                            Latest   Previou  Daily    Change
                                     s                 
                            bid      close    change   in 2020
 EURCZK  Czech     <EURCZK  26.8200  26.9070   +0.32%   -5.18%
 =       crown     =>                                  
 EURHUF  Hungary   <EURHUF  345.090  347.225   +0.62%   -4.04%
 =       forint    =>             0        0           
 EURPLN  Polish    <EURPLN   4.4200   4.4494   +0.67%   -3.70%
 =       zloty     =>                                  
 EURRON  Romanian  <EURRON   4.8400   4.8460   +0.12%   -1.07%
 =       leu       =>                                  
 EURHRK  Croatian  <EURHRK   7.5870   7.5900   +0.04%   -1.87%
 =       kuna      =>                                  
 EURRSD  Serbian   <EURRSD  117.590  117.590   +0.00%   -0.02%
 =       dinar     =>             0        0           
         Note:     calculated from            1800            
         daily                                CET      
         change                                        
                                                              
                   STOCKS                                     
                            Latest   Previou  Daily    Change
                                     s                 
                                     close    change   in 2020
 .PX     Prague              908.59  895.520   +1.46%  -18.56%
                                           0           
 .BUX    Budapest           35875.7  35875.7   +0.00%  -22.15%
                                  1        1           
 .WIG20  Warsaw    <.WIG20  1731.82  1722.65   +0.53%  -19.45%
                   >                                   
 .BETI   Buchares           8701.29  8701.29   +0.00%  -12.79%
         t                                             
 .SBITO  Ljubljan  <.SBITO   836.77   833.77   +0.36%   -9.62%
 P       a         P>                                  
 .CRBEX  Zagreb    <.CRBEX  1628.00  1635.37   -0.45%  -19.30%
                   >                                   
 .BELEX  Belgrade  <.BELEX   678.16   673.16   +0.74%  -15.41%
 15                15>                                 
 .SOFIX  Sofia     <.SOFIX   471.51   452.71   +4.15%  -17.01%
                   >                                   
                                                              
                   BONDS                                      
                            Yield    Yield    Spread   Daily
                            (bid)    change   vs Bund  change
                                                       in
         Czech                                         spread
         Republic                                      
 CZ2YT=    2-year  <CZ2YT=   0.1380   0.0720   +080bp    +8bps
 RR                RR>                              s  
 CZ5YT=    5-year  <CZ5YT=   0.4840   0.0510   +113bp    +5bps
 RR                RR>                              s  
 CZ10YT            <CZ10YT   0.8430   0.1280   +127bp   +11bps
 =RR     10-year   =RR>                             s  
         Poland                                               
 PL2YT=    2-year  <PL2YT=   0.2370   0.0550   +090bp    +6bps
 RR                RR>                              s  
 PL5YT=    5-year  <PL5YT=   0.7080   0.0130   +135bp    +2bps
 RR                RR>                              s  
 PL10YT            <PL10YT   1.2150   0.0300   +164bp    +1bps
 =RR     10-year   =RR>                             s  
                                                              
                   FRA                                        
                            3x6      6x9      9x12     3M
                                                       interba
                                                       nk
         Czech     <CZKFRA     0.26     0.25     0.26     0.34
         Rep       ><PRIBO                             
                   R=>                                 
         Hungary   <HUFFRA     0.81     0.78     0.73     0.91
                   ><BUBOR                             
                   =>                                  
         Poland    <PLNFRA     0.27     0.27     0.26     0.28
                   ><WIBOR                             
                   =>                                  
         Note: FRA quotes are for                             
         ask prices                                    
         
0 : 0
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