CEE MARKETS-Prague bourse hits 10-year high after Avast jumps on merger talks

  • 7/15/2021
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PRAGUE, July 15 (Reuters) - The Prague Stock Exchange"s PX index climbed to a 10-year high on Thursday after shares in dual-listed cybersecurity group Avast soared up to 15% on news the company was in advanced talks over a merger with peer NortonLifeLock. Avast announced the advanced talks late on Wednesday after a Wall Street Journal report. If the deal goes through, it will be a cash-and-share offer, Avast said. The company, however, said there was no certainty a deal with the U.S. group, which is twice Avast"s size, will be agreed. In Prague, shares in Avast, which has Czech roots but is mainly listed in London, had gained 11.5% by 0800 GMT. Prague was 2.2% higher at 1,184.42, off a session high of 1,197, and Avast was the main mover. "We consider the news positive for Avast"s shares since a potential offer will probably encompass a premium to the current market price," J&T Banka analysts said. The rise brings the PX"s gains so far in 2021 to over 15% as equity markets boom with economies coming out of the coronavirus pandemic. Elsewhere in central Europe"s markets, Warsaw blue-chips gained 0.4% while Budapest was little changed. On currency markets, the Czech crown and Hungarian forint led gains, rising 0.15%-0.2%, with both getting support since their central banks last month delivered the European Union"s first interest rate hikes since the pandemic started in early 2020. CEE SNAPSHO AT MARKETS T 1000 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 1184.42 1159.05 +2.19% +15.31 00 % .BUX Budapest 47179.5 47184.6 -0.01% +12.05 8 0 % .WIG20 Warsaw <.WIG20 2277.47 2268.57 +0.39% +14.79 > % .BETI Buchares 12100.9 12055.0 +0.38% +23.41 t 6 3 % .SBITO Ljubljan <.SBITO 1156.37 1147.95 +0.73% +28.36 P a P> % .CRBEX Zagreb <.CRBEX 1934.14 1939.79 -0.29% +11.20 > % .BELEX Belgrade <.BELEX 769.84 772.92 -0.40% +2.84% 15 15> .SOFIX Sofia <.SOFIX 563.88 563.40 +0.09% +26.00 > % 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 Subhranshu Sahu)

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