June 15, 2020 / 10:12 AM / a month ago

CEE MARKETS-Stock markets ease on worries over rise in new virus infections

    By Anita Komuves
    BUDAPEST, June 15 (Reuters) - Central European stock markets
fell on Monday as a rise in coronavirus cases in Beijing and the
United States fed fears of a second wave of infections, with
disappointing economic data from China further souring
sentiment. 
    Warsaw's equities dropped 2.9%, leading losses in
the region. The drop in Polish stocks was mainly due to
profit-taking, Ipopema Securities analyst Robert Maj said. 
    Bucharest lost 1.9%, Prague slipped 1.3% and
Budapest eased 0.6% by 0818 GMT.
    Beijing reported its second consecutive day of record
numbers of virus cases on Monday and hospitalisations rose in
some U.S. states, easing hopes for a quick economic recovery.

    The retreats, which were in line with broader Europe, also
come after the Federal Reserve last week projected a gloomy
economic outlook for the United States, which battered stock
markets globally.
    "The Fed projections about the economic recovery were a big
slap in the face," a Budapest-based FX trader said.
    "But it did not fundamentally change the situation. If the
new virus outbreak in China can be contained and re-openings
continue, the cautious optimism can return," he added. 
    Currencies in the region were little changed on Monday, with
the Polish zloty and the Romanian leu
holding ground. 
    The Czech crown was down 0.2% at 26.7720 against
the euro. The Hungarian forint eased 0.14% to 347.80
versus the common currency.
    Fresh construction data on Monday showed the impact of the
coronavirus outbreak in Hungary. The construction sector's
output fell by an annual 2.1% in April after a 3.4% fall in
March.
    The CEE region's economies, closely tied to Western Europe,
are set for a fall in economic growth in 2020, according to
projections by international organizations, after robust growth
in 2019.
    
    ** For an interactive graphic on CEE economic
developments: reut.rs/3exsJHO


              CEE        SNAPSHOT     AT                       
              MARKETS                1118 CET           
                         CURRENCIES                            
                         Latest      Previous  Daily    Change
                         bid         close     change   in 2020
 Czech crown                26.7720   26.7150   -0.21%   -5.01%
 Hungary                   347.8000  347.3000   -0.14%   -4.79%
 forint                                                 
 Polish                      4.4420    4.4427   +0.02%   -4.18%
 zloty                                                  
 Romanian                    4.8345    4.8350   +0.01%   -0.96%
 leu                                                    
 Croatian                    7.5620    7.5663   +0.06%   -1.54%
 kuna                                                   
 Serbian                   117.4900  117.6400   +0.13%   +0.07%
 dinar                                                  
 Note: daily  calculated from                  1800            
 change                                        CET      
                                                               
                         Latest      Previous  Daily    Change
                                     close     change   in 2020
 Prague                      919.26  930.9400   -1.25%  -17.60%
 Budapest                  37167.36  37403.57   -0.63%  -19.35%
 Warsaw                     1737.03   1788.83   -2.90%  -19.21%
 Bucharest                  8563.49   8731.99   -1.93%  -14.17%
 Ljubljana                   859.83    864.84   -0.58%   -7.13%
 Zagreb                     1631.27   1649.40   -1.10%  -19.14%
 Belgrade     <.BELEX15      677.62    678.77   -0.17%  -15.48%
              >                                         
 Sofia                       456.82    456.39   +0.09%  -19.59%
                                                               
                         Yield       Yield     Spread   Daily
                         (bid)       change    vs Bund  change
                                                        in
 Czech                                                  spread
 Republic                                               
   2-year     <CZ2YT=RR      0.1500   -0.0230   +082bp    -2bps
              >                                      s  
   5-year     <CZ5YT=RR      0.4520   -0.1150   +112bp   -11bps
              >                                      s  
   10-year    <CZ10YT=R      0.8940   -0.0030   +135bp    +1bps
              R>                                     s  
 Poland                                                        
   2-year     <PL2YT=RR      0.2370    0.0030   +091bp    +0bps
              >                                      s  
   5-year     <PL5YT=RR      0.7660   -0.0430   +143bp    -4bps
              >                                      s  
   10-year    <PL10YT=R      1.3080   -0.0410   +176bp    -3bps
              R>                                     s  
              FORWARD                                          
                         3x6         6x9       9x12     3M
                                                        interba
                                                        nk
 Czech Rep            <        0.29      0.33     0.36     0.34
              PRIBOR=>                                  
 Hungary              <        0.77      0.70     0.66     0.90
              BUBOR=>                                   
 Poland               <        0.25      0.25     0.28     0.27
              WIBOR=>                                   
 Note: FRA    are for ask prices                               
 quotes                                                 
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 (Additional reporting by Alan Charlish in Warsaw; Editing by
Aditya Soni)
  
 
 
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