Edition:
United Kingdom

Joanna Plucinska

Macron emphasises EU defence in bid to warm ties with Poland

03 Feb 2020

WARSAW French President Emmanuel Macron sought to reset relations with Poland in a visit on Monday, at a time when Britain's departure and an upsurge of nationalism are reshaping alliances and undermining confidence in the European Union.

Days after Brexit, Macron visits Poland amid frosty ties

02 Feb 2020

WARSAW, Feb 2 French President Emmanuel Macron visits Poland on Monday and Tuesday in an effort to reset frosty ties at a time when the departure of Britain from the European Union is reshaping political alliances in the 27-member bloc.

CEE MARKETS-Stocks recover slightly; coronavirus fears persist

31 Jan 2020

By Joanna Plucinska WARSAW, Jan 31 Central Europe's stock markets recovered slightly on Friday after falling sharply this week as investors assessed the economic impact of a fast-spreading viral outbreak in China that has killed 213 people so far. The World Health Organization declared on Thursday that the coronavirus epidemic in China now constitutes a public health emergency of international concern. Emerging stocks fell for the seventh straight session. All markets have struggled this week as the virus has spread, but stocks have been hardest hit. Prague's index recovered by 0.74% from a seven-week low hit in the previous session, while Budapest was up 0.27% after hitting an eight-week low on Thursday. Czech-based anti-virus software maker Avast rebounded after losing a quarter of its value in the past few days over a data privacy scandal. The firm said on Thursday it would close its Jumpshot business to alleviate concerns. Its stock was up 6.6% in Prague, and helped boost the Prague stock exchange . Warsaw's index, however, fell 0.67% as Poland's biggest oil refiner Orlen continued to slide after weaker-than-expected Q4 results on Thursday, analysts said. Markets weren't affected by the fact that it is the UK's last day in the European Union, putting an end to more than three years of political uncertainties across the region. Economic relations between the United Kingdom and the European Union will be negotiated over the course of the next year. Analysts said there would still be economic uncertainty related to the negotiations, but that it would be less intense than before the Brexit day and turbulence is likely to be expected only in the coming months as negotiations go on. Currencies in the region remained close to their recent lows after drops this week. The Czech crown edged up 0.05% to 25.24 to the euro, while the Hungarian forint rose 0.20% to 336.54 to the euro. The Polish zloty, however, dropped 0.26%. CEE SNAPSHOT AT 1053 MARKETS CET CURRENCI ES Latest Previous Daily Change bid close change in 2020 EURCZK= Czech 25.2400 25.2525 +0.05 +0.76% crown % EURHUF= Hungary 336.5400 337.2200 +0.20% -1.60% forint EURPLN= Polish 4.3000 4.2890 -0.26% -1.01% zloty EURRON= Romania 4.7770 4.7765 -0.01% +0.24% n leu EURHRK= Croatia 7.4440 7.4413 -0.04% +0.02% n kuna EURRSD= Serbian 117.5000 117.5600 +0.05% +0.06% dinar Note: calculated from 1800 daily CET change Latest Previous Daily Change close change in 2020 .PX Prague 1082.34 1074.3900 +0.74% -2.98% .BUX Budapes 43617.83 43501.99 +0.27% -5.35% t .WIG20 Warsaw 2064.90 2079.98 -0.73% -3.96% .BETI Buchare 10012.38 9949.55 +0.63 +0.35% st % .SBITOP Ljublja 974.52 975.26 -0.08% +5.26% na .CRBEX Zagreb 2038.83 2037.81 +0.05% +1.06% .BELEX1 Belgrad <.BELEX15 811.03 806.98 +0.50% +1.17% 5 e > .SOFIX Sofia 572.22 574.27 -0.36% +0.72% Yield Yield Spread Daily (bid) change vs change Bund in Czech spread Republi c CZ2YT=R <CZ2YT=RR 1.7710 0.0330 +243bp +4bps R 2-year > s CZ5YT=R <CZ5YT=RR 1.5540 -0.0560 +217b -5bps R 5-year > ps CZ10YT= <CZ10YT=R 1.5180 -0.0300 +193b -3bps RR 10-year R> ps Poland PL2YT=R <PL2YT=RR 1.5020 -0.0020 +216b +0bps R 2-year > ps PL5YT=R <PL5YT=RR 1.8450 0.0040 +247b +1bps R 5-year > ps PL10YT= <PL10YT=R 2.1970 0.0240 +261b +3bps RR 10-year R> ps FORWARD 3x6 6x9 9x12 3M interba nk Czech < 2.18 2.17 2.14 2.17 Rep PRIBOR=> Hungary < 0.34 0.45 0.53 0.23 BUBOR=> Poland < 1.74 1.75 1.75 1.71 WIBOR=> Note: are for ask prices FRA quotes (Reporting by Jan Lopatka in Prague, Anna Koper in Warsaw; Editing by Amy Caren Daniel)

RPT-In Poland, France's Macron hopes to reset ties and build up business

31 Jan 2020

WARSAW/PARIS, Jan 30 When French President Emmanuel Macron toured eastern Europe just weeks after being elected in 2017, he shunned Poland and delivered a stinging attack on its leaders.

In Poland, France's Macron hopes to reset ties and build up business

30 Jan 2020

WARSAW/PARIS When French President Emmanuel Macron toured eastern Europe just weeks after being elected in 2017, he shunned Poland and delivered a stinging attack on its leaders.

Poland willing to mull compromise with EU on rule of law - justice minister

28 Jan 2020

WARSAW Poland is willing to consider a compromise with the European Union on its selection of judges under certain conditions, its justice minister said on Tuesday after talks with a senior EU official on rule of law concerns.

Poland, Israel condemn resurgent anti-Semitism at Auschwitz commemoration

27 Jan 2020

OSWIECIM, Poland The presidents of Israel and Poland called on Monday for greater efforts to combat anti-Semitism as the world marked 75 years since the liberation of the Auschwitz death camp amid concerns over a resurgence of anti-Jewish prejudice. | Video

With anti-Semitism on the rise, Auschwitz liberation commemorated

27 Jan 2020

WARSAW/OSWIECIM, Poland, Jan 27 World leaders join ageing Holocaust survivors in Poland on Monday to mark 75 years since the liberation of the Auschwitz death camp by Soviet troops, amid concerns over a global resurgence of anti-Semitism.

75 years on, Holocaust survivors struggle to recover property in Poland

20 Jan 2020

WARSAW/NEW YORK Lea Evron, 85, has only fragments of memories of the fur factory and the three-story apartment building her family owned before World War Two in Zywiec, a small town in southern Poland.

CEE MARKETS-Currencies slip as central banks wait and see on rates

18 Dec 2019

By Joanna Plucinska WARSAW, Dec 18 Currencies in Eastern Europe fell slightly on Wednesday, as investors faced fresh Brexit fears ahead of a Czech central bank policy meeting where rates are set to remain unchanged despite inflation concerns. Caught between inflationary pressures at home and monetary easing in major Western economies, Central European rate setters have adopted a wait-and-see policy with rates in the region expected to remain on hold. The crown was down 0.10% at 25.47 to the euro at 1005 GMT, while the Hungarian forint dropped to 330.65 to the euro. The zloty dropped 0.13% to 4.2665 to the euro. Stock markets also mostly fell in the region. The Czech crown touched a 5-1/2 month high, then fell back, before a central bank policy meeting likely to deliver unchanged rates despite an ongoing debate over whether further tightening is needed to bring inflationary pressures in line. "There are global factors, there is renewed uncertainty over Brexit... but in the Czech Republic everyone is waiting for the MPC press conference," Radomir Jac, chief economist for Generali Investments CEE, said. "Probably some of the market was over-heated with expectations about a rate hike and now they are coming back to reality. If there was a rate hike it would be a big surprise." With a Conservative win in Britain in last week's elections, Prime Minister Boris Johnson has renewed fears about a no-deal Brexit in relation to post-January trade negotiations, spooking currency markets. Analysts in a Reuters poll see rates unchanged in the Czech Republic until the end of 2020 as the board balances a solid domestic economy with a weaker situation abroad. "Since inflation expectations for a one-year horizon are, despite recent increases, still comfortably only slightly above the CNB (central bank) target of 2%, the central bank can afford this relaxed attitude for the time being," Commerzbank said in a preview. Hungary's central bank left interest rates unchanged at 0.9% on Tuesday, as expected, and maintained its loose policy stance, saying inflation risks have become balanced again as recession fears subsided in the euro zone. "The Hungarian MPC expects inflation to accelerate further in the near-term, but asserts that this will only be temporary. How temporary does it mean?," Tatha Ghose, an analyst at Commerzbank said. "The persistence of MNB's ultra-dovish stance in the face of clear and continued inflation acceleration to above-target is likely to weigh down further on the forint in coming months." In Poland, corporate sector wages rose by an annual 5.3% in November, statistics data showed, below forecasted expectations of 5.9% seen in a Reuters poll. CEE MARKETS SNAPSHOT AT 1105 CET CURRENCIES Latest Previous Daily Change bid close change in 2019 EURCZK= Czech crown 25.4700 25.4455 -0.10% +0.93% EURHUF= Hungary 330.6500 330.3700 -0.08% -2.89% forint EURPLN= Polish zloty 4.2665 4.2609 -0.13% +0.54% EURRON= Romanian leu 4.7797 4.7789 -0.02% -2.63% EURHRK= Croatian 7.4485 7.4443 -0.06% -0.52% kuna EURRSD= Serbian 117.4000 117.4600 +0.05% +0.77% dinar Note: daily calculated from 1800 change CET Latest Previous Daily Change close change in 2019 .PX Prague 1101.64 1101.1000 +0.05% +11.66% .BUX Budapest 44960.92 45035.35 -0.17% +14.88% .WIG20 Warsaw 2120.28 2132.25 -0.56% -6.87% .BETI Bucharest 9871.34 9887.91 -0.17% +33.69% .SBITOP Ljubljana 920.73 922.65 -0.21% +14.48% .CRBEX Zagreb 2012.94 2015.38 -0.12% +15.10% .BELEX15 Belgrade 781.18 769.42 +1.53% +2.56% .SOFIX Sofia 543.92 541.34 +0.48% -8.50% BONDS Yield Yield Spread Daily (bid) change vs Bund change in Czech spread Republic CZ2YT=RR 2-year 1.5340 -0.0150 +217bp -2bps s CZ5YT=RR 5-year 1.2760 -0.0340 +182bp -3bps s CZ10YT=RR 10-year 1.5660 0.0090 +185bp +1bps s Poland PL2YT=RR 2-year 1.4470 0.0090 +208bp +1bps s PL5YT=RR 5-year 1.7640 -0.0010 +231bp +0bps s PL10YT=RR 10-year 2.0340 0.0070 +232bp +0bps s FORWARD RATE AGREEMENT 3x6 6x9 9x12 3M interbank Czech Rep <PR 2.25 2.26 2.22 2.18 IBOR=> Hungary <BU 0.27 0.31 0.36 0.16 BOR=> Poland <WI 1.74 1.73 1.71 1.70 BOR=> Note: FRA are for ask prices quotes (Reporting by Joanna Plucinska and Alan Charlish in Warsaw, Krisztina Than in Budapest and Jason Hovet in Prague; editing by Nick Macfie)

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