December 7, 2018 / 10:45 AM / 8 days ago

CEE MARKETS-Shares stage modest rebound, currencies steady

    BUDAPEST, Dec 7 (Reuters) - Polish shares led gains across
central European stock markets on Friday, tracking a rebound in
European shares from losses a day earlier sparked by trade war
concerns.
    At 1026 GMT, Warsaw shares were 0.9 percent higher,
followed by Prague Budapest, with gains of 0.7
percent and 0.4 percent, respectively.
    Shares in Takarek Mortgage Bank, the commercial
banking unit of savings and loans group Takarek, led gains in
Budapest with a 3.8-percent rise to 710 forints.
    The loss-making group announced a new strategy last week,
focusing on cost cuts and efficiency improvements to become a
universal bank in the coming years, competing with major
domestic and foreign lenders.
    Takarek shares rose nearly 25 percent over the past six
months, outperforming the blue-chip index, which gained 7
percent over the same period.
    Hungarian drugmaker Richter, which announced a share buyback
programme at the end of last month, gained 1.4 percent.

    The company's shares have risen by more than 6 percent since
it announced a buyback of up to 300,000 shares on Nov 26.
    Regional currencies were little changed, with the Hungarian
forint hovering around the 323 mark versus the euro,
flirting with nearby technical levels.
    "Should these levels be breached, that would open the door
for gains towards 321 in the short run," analysts at local
brokerage Erste Investment said in a note.
    "Slightly below that (at 320.4), we see the 200-day moving
average, which could halt any further forint gains."
    Hungary posted a foreign trade surplus of 293 million euros
in October based on preliminary data, bringing the surplus to
5.15 billion euros in the first ten months.
    Economists at Takarekbank said the sustained high trade
surplus could bolster the forint, which has underperformed its
peers with a 3.7 percent loss in 2018.
    "By the end of this year and next year we expect the forint
to strengthen from the current levels, which are not justified
by fundamentals," Takarekbank analyst Andras Horvath said.
    Analysts polled by Reuters expect the forint to gain one
percent to 320.5 versus the euro in the coming year.

            CEE       SNAPSHO   AT                      
            MARKETS   T        1126              
                               CET               
                      CURRENC                           
                      IES                        
                      Latest   Previou  Daily    Change
                               s                 
                      bid      close    change   in 2018
 Czech      <EURCZK=  25.8600  25.8780   +0.07%   -1.23%
 crown      >                                    
 Hungary    <EURHUF=  323.000  323.240   +0.07%   -3.74%
 forint     >               0        0           
 Polish     <EURPLN=   4.2847   4.2799   -0.11%   -2.53%
 zloty      >                                    
 Romanian   <EURRON=   4.6480   4.6526   +0.10%   +0.68%
 leu        >                                    
 Croatian   <EURHRK=   7.3900   7.3915   +0.02%   +0.55%
 kuna       >                                    
 Serbian    <EURRSD=  118.330  118.190   -0.12%   +0.14%
 dinar      >               0        0           
 Note:      calculated from             1800            
 daily                                  CET      
 change                                          
                                                        
                      Latest   Previou  Daily    Change
                               s                 
                               close    change   in 2018
 Prague               1045.47  1038.59   +0.66%   -3.03%
                                    00           
 Budapest             39919.4  39747.1   +0.43%   +1.38%
                            8        3           
 Warsaw               2314.59  2294.34   +0.88%   -5.96%
 Bucharest            8674.51  8656.79   +0.20%   +11.88
                                                       %
 Ljubljana  <.SBITOP   813.95   814.39   -0.05%   +0.94%
            >                                    
 Zagreb               1701.88  1712.69   -0.63%   -7.65%
 Belgrade   <.BELEX1   746.37   738.48   +1.07%   -1.77%
            5>                                   
 Sofia                 593.15   592.45   +0.12%  -12.44%
                      BONDS                             
                      Yield    Yield    Spread   Daily
                      (bid)    change   vs Bund  change
                                                 in
 Czech                                           spread
 Republic                                        
   2-year   <CZ2YT=R   1.6630   0.0480   +227bp    +3bps
            R>                                s  
   5-year   <CZ5YT=R   1.7970   0.0480   +209bp    +4bps
            R>                                s  
   10-year  <CZ10YT=   2.0360   0.0000   +179bp    -2bps
            RR>                               s  
 Poland                                                 
   2-year   <PL2YT=R   1.5640   0.0120   +217bp    +0bps
            R>                                s  
   5-year   <PL5YT=R   2.4570   0.0200   +275bp    +1bps
            R>                                s  
   10-year  <PL10YT=   3.0270   0.0220   +278bp    +0bps
            RR>                               s  
            FORWARD   RATE     AGREEME                  
                               NT                
                      3x6      6x9      9x12     3M
                                                 interba
                                                 nk
 Czech Rep               2.18     2.30     2.37     2.01
            <PRIBOR=                             
            >                                    
 Hungary                 0.30     0.50     0.80     0.13
                                                 
 Poland                  1.76     1.77     1.80     1.72
                                                 
 Note: FRA  are for ask                                 
 quotes     prices                               
 **********************************************         
 ****************                                
 

 (Reporting by Gergely Szakacs
Editing by Raissa Kasolowsky)
  
 
 
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