CEE MARKETS-Warsaw stocks at 15-month high, FX cools

  • 5/10/2021
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PRAGUE, May 10 (Reuters) - Central European stock markets charged ahead on Monday, with Warsaw"s blue-chip index touching its highest since February 2020, while currencies largely gave back recent gains. Stocks followed global equity markets higher on prospects that interest rates in the United States will remain low and the economic recovery on track. Locally, Prague shares were also propelled by a 1% rise in utility CEZ before it reports quarterly results on Tuesday. CEZ shares have been lifted to multi-year highs by expectations of a hefty dividend after it sold some foreign assets. Prague"s PX index added 0.6% overall, Budapest was 0.5% higher and Warsaw led gains with a 1.5% rise. On currency markets, the Hungarian forint cooled 0.15% to trade at 358.12 to the euro. The Czech crown was steady at 25.637 per euro. Both were waiting on inflation data due on Tuesday, with an inflation spike in Hungary recently drawing some attention. The Hungarian central bank expects headline inflation to approach 5% in the second quarter, driven by fuel prices and tax changes, overshooting its 2%-4% target range. It has called the move temporary but has pledged to prevent any sustained rise. Czech rate setters, on the other hand, have flagged that they could become the first in the region to begin tightening policy sooner rather than later. Market bets on a rate hike as soon as August have jumped since last Thursday"s Czech policy meeting after which Governor Jiri Rusnok said a rate rise this year was a certainty. Rates markets were quieter on Monday while bond yields were mixed. Elsewhere, the Polish zloty slipped 0.45%, giving up gains from last Friday after a decision from the country"s Supreme Court that set the stage for a hearing this week to determine how courts treat thousands of borrowers who took out Swiss franc loans more than a decade ago. CEE SNAPSHO AT MARKETS T 1120 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: calcula 1800 daily ted CET change from STOCKS Latest Previou Daily Change s close change in 2021 .PX Prague 1116.60 1109.87 +0.61% +8.71% 00 .BUX Budapest 44392.2 44164.3 +0.52% +5.43% 8 7 .WIG20 Warsaw <.WIG20 2129.03 2097.31 +1.51% +7.31% > .BETI Buchares 11664.9 11591.4 +0.63% +18.96 t 7 8 % .SBITO Ljubljan <.SBITO 1068.22 1067.88 +0.03% +18.58 P a P> % .CRBEX Zagreb <.CRBEX 1950.24 1935.53 +0.76% +12.13 > % .BELEX Belgrade <.BELEX 754.96 755.92 -0.13% +0.85% 15 15> .SOFIX Sofia <.SOFIX 518.07 518.05 +0.00% +15.76 > % 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 Editing by Gareth Jones) Our Standards: The Thomson Reuters Trust Principles.

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