By Radu-Sorin Marinas
BUCHAREST, Jan 13 (Reuters) - Central European shares edged
up, mirroring a global mode as investors awaited the signing of
a Sino-U.S. trade deal later this week, while the Czech crown
got a boost from a pick-up in inflation.
By 0950 GMT the crown firmed 0.1% to 25.24 to the
euro, holding near a 23-month high hit at the start of this
year. Other regional currencies were mostly flat, while the
forint edged 0.3% down on the day.
Czech inflation accelerated in December though most analysts
expected the bank would continue to hold steady on rates despite
ongoing debate over a hike, which was voted down at the last
three meetings.
Inflation was outside the upper end of the central bank's
tolerance range around its 2% target for a second straight
month.
"Whether the central bank will further raise rates will
mainly depend on economic development abroad," ING economist
Jakub Seidler said.
Markets have priced out chances of a rate cut over the next
year period in recent weeks. Some analysts still see chances a
hike could come some time this year if the global outlook
improves.
On stock markets, Bucharest's blue chip BETI led
regional gains with a 0.5% rise, close to a year high of 10,012,
with heavyweight investment fund Fondul Proprietatea
trading 1.7% up on the day. Poland's market came second
with 0.3%.
"Fondul's (share) buyback programme unveiled last week
continues to prop up the stock, and there's also the background
of a long awaited deal between China and the United States that
should happen this week," said a Bucharest-based trader.
CEE MARKETS SNAPSHOT AT
1100 CET
CURRENCIE
S
Latest Previous Daily Change
bid close change in 2020
Czech 25.2490 25.2640 +0.06% +0.72%
crown
Hungary 335.0000 333.8000 -0.36% -1.15%
forint
Polish 4.2379 4.2358 -0.05% +0.44%
zloty
Romanian 4.7800 4.7791 -0.02% +0.17%
leu
Croatian 7.4430 7.4425 -0.01% +0.03%
kuna
Serbian 117.5400 117.5800 +0.03% +0.03%
dinar
Note: calculated from 1800 CET
daily
change
Latest Previous Daily Change
close change in 2020
Prague 1137.07 1133.670 +0.30% +1.92%
0
Budapest 45553.83 45364.14 +0.42% -1.15%
Warsaw 2177.92 2167.91 +0.46% +1.29%
Buchares 9998.96 9952.83 +0.46% +0.22%
t
Ljubljan 972.82 965.30 +0.78% +5.07%
a
Zagreb 2037.89 2036.45 +0.07% +1.01%
Belgrade 795.96 805.40 -1.17% -0.71%
Sofia 578.54 579.24 -0.12% +1.83%
BONDS
Yield Yield Spread Daily
(bid) change vs Bund change in
Czech spread
Republic
2-year 1.7100 0.0200 +230bps +1bps
5-year 1.4430 -0.0340 +194bps -4bps
1.6590 0.0210 +188bps +1bps
10-year
Poland
2-year 1.5660 0.0330 +216bps +2bps
5-year 1.9960 0.0490 +249bps +4bps
2.2960 0.0300 +251bps +2bps
10-year
FORWARD RATE AGREEMEN
T
3x6 6x9 9x12 3M
interbank
Czech <PR 2.26 2.27 2.32 2.17
Rep IBOR=>
Hungary <BU 0.26 0.35 0.43 0.16
BOR=>
Poland <WI 1.76 1.77 1.80 1.71
BOR=>
Note: are for ask prices
FRA
quotes
****************************************************
**********
(Additional reporting by Jason Hovet in Prague;
Editing by Andrew Cawthorne)
Our Standards:The Thomson Reuters Trust Principles.
https://www.reuters.com/article/easteurope-markets/cee-markets-inflation-buoys-crown-stocks-up-on-us-china-deal-idUSL8N29I2A0
2020-01-13 10:32:00Z
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