PRAGUE, March 15 (Reuters) - Prague"s main share index
tested 2021 highs on Monday and Warsaw hit a two-month peak as
central European equities started the week on stronger ground
amid global recovery hopes, while currencies moved sideways.
The Prague PX index had risen 0.3% by 0949 GMT and was
just below its 2021 high of 1,082.80 touched in early January.
In Warsaw, the WIG20 blue-chip index gained 1%. Budapest markets
were closed for a holiday.
A $1.9 trillion stimulus package in the United States added
to recovery hopes, giving a boost to stocks in central Europe
which are generally viewed as cheaper than U.S. or other peers.
Central Europe has been poised for recovery this year but
has faced an increase in COVID-19 cases in recent weeks, raising
concerns over prolonged lockdown measures.
That has weighed largely on currencies, which have mostly
weakened since February.
On Monday, the Czech crown gained some ground, up
0.1% at 26.15to the euro. The Polish zloty and
Romanian leu edged down, and the Hungarian forint
slipped 0.1%.
Polish central bank Governor Adam Glapinski was quoted over
the weekend saying chances of a change in interest rates were
almost zero.
On Wednesday the Polish central bank will buy state and
state-guaranteed bonds, the first such operation since it
indicated that in future it may increase their size and
frequency.
"Taking into account the attractive pricing proposed by the
central bank at the recent auctions, it cannot be ruled out that
investors will submit larger sale bids," PKO BP said. "Such
expectations could contribute to a decline in bond yields before
the auction itself."
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