August 9, 2019 / 8:51 AM / 15 days ago

CEE MARKETS-Lender OTP boosts Budapest stock index, regional FX treads water

    By Radu-Sorin Marinas and Krisztina  Than
    BUCHAREST, Aug 9 (Reuters) - Hungary led central European
share gains on Friday, driven by strong earnings by OTP
, the region's biggest independent lender, while
currencies trod water, mirroring the euro that shrugged off
Italy's ruling coalition tensions.
    OTP shares initially rose as much as 2.6% before paring
gains marginally to trade at 12,600 by 0830 GMT, outperforming
Budapest's as its net profit jumped 18% on the year in
the second quarter to 105.4 billion forint.
    OTP Bank Nyrt Deputy CEO Laszlo Bencsik told a news
conference that the operating environment in Hungary is "very
positive," with 4.8% gross domestic product rise expected this
year.
    Bencsik added the bank's recent acquisitions in Montenegro
and in Moldova will already have an impact on the third
quarter's results.
    "Besides the relatively favourable international sentiment,
the better than expected results published by OTP could also
help the stock market rise this morning," said brokerage
Equilor.
    Hungary's rose as much as 0.9%. Other stocks in the
region were mixed, with Poland's blue-chip WIG 20 index
down 0.6%, Prague's PX index rising 0.3% and Bucharest's
 easing 0.4%.
    By 0840 GMT the forint and the Czech crown both
edged down by same 0.1% token while the Romanian leu
and the Polish zloty were virtually unchanged.
    Elsewhere, minutes of the Aug. 1, Czech central bank's (CNB)
meeting showed its board voted unanimously to leave interest
rates unchanged at 2.00%.

            CEE       SNAPSHO   AT  1037                    
            MARKETS   T        CET                 
                      CURRENC                               
                      IES                          
                      Latest   Previous   Daily    Change
                      bid      close      change   in 2019
 Czech      <EURCZK=  25.8220    25.7990   -0.09%     -0.45%
 crown      >                                      
 Hungary    <EURHUF=  324.570   324.1600   -0.13%     -1.07%
 forint     >               0                      
 Polish     <EURPLN=   4.3215     4.3210   -0.01%     -0.74%
 zloty      >                                      
 Romanian   <EURRON=   4.7255     4.7225   -0.06%     -1.51%
 leu        >                                      
 Croatian   <EURHRK=   7.3890     7.3793   -0.13%     +0.28%
 kuna       >                                      
 Serbian    <EURRSD=  117.540   117.6400   +0.09%     +0.65%
 dinar      >               0                      
 Note:      calculated from               1800              
 daily                                    CET      
 change                                            
                                                            
                      Latest   Previous   Daily    Change
                               close      change   in 2019
 Prague               1023.37  1020.5300   +0.28%     +3.73%
 Budapest             40655.4   40389.38   +0.66%     +3.87%
                            1                      
 Warsaw               2145.36    2158.88   -0.63%     -5.77%
 Bucharest            9085.66    9121.20   -0.39%    +23.05%
 Ljubljana  <.SBITOP   856.93     859.44   -0.29%     +6.55%
            >                                      
 Zagreb               1899.94    1897.72   +0.12%     +8.64%
 Belgrade   <.BELEX1   746.59     742.05   +0.61%     -1.98%
            5>                                     
 Sofia                 584.27     583.82   +0.08%     -1.71%
                      BONDS                                 
                      Yield    Yield      Spread   Daily
                      (bid)    change     vs Bund  change in
 Czech                                             spread
 Republic                                          
   2-year   <CZ2YT=R   0.9900    -0.0040   +185bp      +1bps
            R>                                  s  
   5-year   <CZ5YT=R   0.8000     0.0130   +166bp      +3bps
            R>                                  s  
   10-year  <CZ10YT=   0.9980     0.0070   +159bp      +4bps
            RR>                                 s  
 Poland                                                     
   2-year   <PL2YT=R   1.5760     0.0200   +244bp      +4bps
            R>                                  s  
   5-year   <PL5YT=R   1.8240     0.0210   +268bp      +4bps
            R>                                  s  
   10-year  <PL10YT=   2.0070     0.0000   +259bp      +3bps
            RR>                                 s  
            FORWARD   RATE     AGREEMENT                    
                      3x6      6x9        9x12     3M
                                                   interbank
 Czech Rep               2.01       1.87     1.69       2.15
            <PRIBOR=                               
            >                                      
 Hungary                 0.28       0.31     0.33       0.25
                                                   
 Poland                  1.72       1.69     1.68       1.72
                                                   
 Note: FRA  are for ask                                     
 quotes     prices                                 
 ************************************************           
 **************                                    
 

 (Editing by Keith Weir)
  
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