CEE MARKETS-Warsaw hits 2-month high, Prague tests 2021 peak as stocks gain

  • 3/15/2021
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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." CEE SNAPSHO AT MARKETS T 1049 CET CURRENC IES Latest Previou Daily Change s bid close change in 2021 EURCZK Czech EURHUF Hungary 0 0 EURPLN Polish EURRON Romanian EURHRK Croatian EURRSD Serbian 0 0 Note: calculated from 1800 daily CET change STOCKS Latest Previou Daily Change s close change in 2021 .PX Prague 1080.24 1077.33 +0.27% +5.17% 00 .BUX Budapest 43711.8 43711.8 +0.00% +3.81% 4 4 .WIG20 Warsaw <.WIG20 2026.04 2006.11 +0.99% +2.12% > .BETI Buchares 10795.4 10742.7 +0.49% +10.09 t 3 5 % .SBITO Ljubljan <.SBITO 997.58 989.93 +0.77% +10.74 P a P> % .CRBEX Zagreb <.CRBEX 1876.80 1870.20 +0.35% +7.91% > .BELEX Belgrade <.BELEX 746.73 747.00 -0.04% -0.25% 15 15> .SOFIX Sofia <.SOFIX 492.66 491.26 +0.28% +10.08 > % BONDS Yield Yield Spread Daily (bid) change vs Bund change in Czech spread Republic CZ2YT= 2-year s CZ5YT= 5-year s CZ10YT s Poland PL2YT= 2-year s PL5YT= 5-year s PL10YT s FRA 3x6 6x9 9x12 3M interba nk Czech Hungary Poland Note: FRA quotes are for ask prices ******************************************** ****************** (Reporting by Jason Hovet in Prague and Alan Charlish in Warsaw; editing by Emeia Sithole-Matarise)

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