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CEE MARKETS-Stocks rise on earnings, FX off highs despite upbeat data
May 9, 2017 / 10:22 AM / 5 months ago

CEE MARKETS-Stocks rise on earnings, FX off highs despite upbeat data

    * Earnings reports lift some Hungarian, Polish shares
    * Hungary, Czechs report good trade, retail figures
    * Currencies trade off highs as French impact fades

    By Sandor Peto
    BUDAPEST, May 9 (Reuters) - Central European stocks mostly
rose on Tuesday as attention shifted to local factors after
pro-European Union centrist Emmanuel Macron won Sunday's French
presidential election.
    Earnings reports that showed profits rose in the first
quarter helped stocks gain in Hungary and Poland. Budapest led
gains by the region's main stock indices.
    "Whether the new EU leaders will put more pressure on
(Central Europe) over migration and other things, that is a
long-term question with no impact right now," one Budapest-based
dealer said.    
     The main Budapest index was up 0.7 percent by 0853
GMT, even though heavyweight oil group MOL was trading
ex-dividend and fell 1.6 percent. Drugmaker Richter
rose 0.8 percent after it reported higher first-quarter net
profits and raised forecasts for 2017.
    OTP Bank's stock, which fell below the key
8,000-forint ($28.02) level last week, rebounded to rise 0.6
percent to 7,970 forints before it reports earnings on Friday.
    The shares of Hungary's FHB gained 1.9 percent
after Moody's raised its rating for the bank's deposits.
Architecture-design software maker Graphisoft jumped
3.7 percent on increased earnings.
    In Warsaw, shares of Alior rose 2 percent after
the bank reported an increase in its first-quarter profits.
 
    Regional currencies weakened, trading off their multi-week
highs - or in the case of the zloty, a 20-month high -
 of the past days.
     The Czech crown slipped 0.1 percent to 26.69
against the euro and the forint also weakened, even
though both countries reported higher-than-expected trade
surpluses for March and Czech retail sales continued to surge.
     Other Czech data showed that the Czech central bank bought
almost 20 billion euros ($21.82 billion) in March before lifting
its cap on the value of the crown, which had kept the currency
weaker than 27 to the euro since 2013.
    
             CEE        SNAPS   AT  1053          
             MARKETS    HOT    CET           
                        CURRENCIES                
                        Lates  Previ  Daily  Chang
                        t      ous           e
                        bid    close  chang  in
                                      e      2017
 Czech                  26.69  26.66  -0.09  1.19%
 crown                     00     70      %  
 Hungary                311.8  311.6  -0.07  -0.97
 forint                   500    200      %      %
 Polish                 4.225  4.225  -0.01  4.22%
 zloty                      6      3      %  
 Romanian               4.551  4.549  -0.04  -0.36
 leu                        5      7      %      %
 Croatian               7.424  7.420  -0.05  1.77%
 kuna                       0      5      %  
 Serbian                122.9  123.0   +0.1  0.33%
 dinar                    500    950     2%  
 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                 1009.  1005.   +0.3   +9.5
                           52     94     6%     4%
 Budapest               33088  32844   +0.7   +3.3
                          .67    .67     4%     9%
 Warsaw                 2389.  2374.   +0.6   +22.
                           58     23     5%    67%
 Bucharest              8313.  8297.   +0.1   +17.
                           08     29     9%    33%
 Ljubljana              778.0  778.2  -0.03   +8.4
                            0      0      %     2%
 Zagreb                 1900.  1905.  -0.23  -4.72
                           60     02      %      %
 Belgrade    <.BELEX15  715.9  715.7   +0.0  -0.20
             >              2      5     2%      %
 Sofia                  664.6  660.8   +0.5   +13.
                            8      1     9%    34%
                        BONDS                     
                        Yield  Yield  Sprea  Daily
                                      d      
                        (bid)  chang  vs     chang
                               e      Bund   e in
 Czech                                       sprea
 Republic                                    d
   2-year    <CZ2YT=RR      0  0.178   +066   +17b
             >                          bps     ps
   5-year    <CZ5YT=RR  0.026  0.002   +031  -2bps
             >                          bps  
   10-year   <CZ10YT=R  0.818      0   +038  -2bps
             R>                         bps  
 Poland                                           
   2-year    <PL2YT=RR  2.005  0.008   +266   +0bp
             >                          bps      s
   5-year    <PL5YT=RR  2.917   0.02   +320   +0bp
             >                          bps      s
   10-year   <PL10YT=R  3.479  0.005   +304  -2bps
             R>                         bps  
             FORWARD    RATE   AGREEMENT          
                        3x6    6x9    9x12   3M
                                             inter
                                             bank
 Czech Rep           <   0.35   0.42   0.51      0
             PRIBOR=>                        
 Hungary             <   0.26   0.35   0.45   0.16
             BUBOR=>                         
 Poland              <   1.77  1.805   1.85   1.73
             WIBOR=>                         
 Note: FRA   are for                              
 quotes      ask                             
             prices                          
 *************************************************
 *************
 

($1 = 285.5500 forints)

($1 = 0.9168 euros)

 (Additional reporting by Luiza Ilie in Bucharest, editing by
Larry King)
  
 
 

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