May 19, 2020 / 9:27 AM / 11 days ago

CEE MARKETS-Stocks extend gains on vaccine hopes, currencies mixed

    BUCHAREST, May 19 (Reuters) - Central European stocks
extended gains on Tuesday boosted by hopes for a vaccine for the
new coronavirus and new funding plans geared to help European
Union economies recover from a downturn, while currencies were
mixed.
    France and Germany proposed a 500 billion euro ($546.95
billion) Recovery Fund on Monday that would offer grants to the
hardest hit EU regions and sectors.
    By 0855 GMT, Bucharest's index was up 0.8% on the
day, while Budapest's and Prague's were each up
0.3% and Warsaw's was up 0.1%.
    In Budapest, the central bank will buy government bonds at
its weekly tender. The bank did not specify the amount of bonds
it would purchase as part of efforts to shore up the economy. So
far, it has bought 119 billion forints ($367.81 million) worth
of government bonds from local banks.
    By 0855, the Hungarian forint was up 0.2% at
352.1500, fuelled by the positive mood in international markets.
The Czech crown was also 0.2% stronger on the day. The
Polish zloty edged 0.1% lower, while the Romanian leu
 was flat. 
    Romania's central bank said in a statement that policymakers
aimed to further ensure the market liquidity needed to finance
state spending and the real economy while keeping the exchange
rate relatively stable and gradually lowering interest rates.

    The bank had bought 3.1 billion lei ($695.68 million) worth
of treasuries from the secondary market by mid-May, while the
daily average stock of bilateral repo transactions was roughly
13 billion lei ($2.92 billion) during April 1-May 15.
    "Based on the statement, the central bank might slash the
base rate by a cumulative 50 basis points to 1.50% - in line
with our long-held view," Raiffeisen Bank said in a note.
    
           CEE       SNAPSHO   AT                      
           MARKETS   T        1109              
                              CET               
                     CURRENC                           
                     IES                        
                     Latest   Previou  Daily    Change
                              s                 
                     bid      close    change   in 2020
 Czech     <EURCZK=  27.5350  27.6080   +0.27%   -7.64%
 crown     >                                    
 Hungary   <EURHUF=  351.760  352.700   +0.27%   -5.86%
 forint    >               0        0           
 Polish    <EURPLN=   4.5618   4.5600   -0.04%   -6.69%
 zloty     >                                    
 Romanian  <EURRON=   4.8415   4.8391   -0.05%   -1.10%
 leu       >                                    
 Croatian  <EURHRK=   7.5610   7.5580   -0.04%   -1.53%
 kuna      >                                    
 Serbian   <EURRSD=  117.520  117.570   +0.04%   +0.04%
 dinar     >               0        0           
 Note:     calculated from             1800            
 daily                                 CET      
 change                                         
                                                       
                     Latest   Previou  Daily    Change
                              s                 
                              close    change   in 2020
 Prague               882.22  878.650   +0.41%  -20.92%
                                    0           
 Budapest            35452.4  35307.5   +0.41%  -23.07%
                           9        1           
 Warsaw              1640.59  1639.08   +0.09%  -23.70%
 Buchares            8358.44  8298.02   +0.73%  -16.23%
 t                                              
 Ljubljan  <.SBITOP   820.64   819.44   +0.15%  -11.36%
 a         >                                    
 Zagreb              1572.10  1565.20   +0.44%  -22.07%
 Belgrade  <.BELEX1   674.01   672.19   +0.27%  -15.93%
           5>                                   
 Sofia                451.18   449.75   +0.32%  -20.59%
                                                       
                     Yield    Yield    Spread   Daily
                     (bid)    change   vs Bund  change
                                                in
 Czech                                          spread
 Republic                                       
   2-year  <CZ2YT=R   0.1260  -0.0210   +082bp    -6bps
           R>                                s  
   5-year  <CZ5YT=R   0.3840  -0.0430   +106bp    -5bps
           R>                                s  
           <CZ10YT=   0.8410   0.0420   +132bp    +4bps
 10-year   RR>                               s  
 Poland                                                
   2-year  <PL2YT=R   0.5410   0.0420   +123bp    +0bps
           R>                                s  
   5-year  <PL5YT=R   0.8980   0.0450   +158bp    +4bps
           R>                                s  
           <PL10YT=   1.3740   0.0650   +185bp    +6bps
 10-year   RR>                               s  
           FORWARD                                     
                     3x6      6x9      9x12     3M
                                                interba
                                                nk
 Czech                  0.20     0.21     0.23     0.34
 Rep       <PRIBOR=                             
           >                                    
 Hungary                0.92     0.87     0.81     1.03
                                                
 Poland                 0.37     0.35     0.35     0.68
                                                
 Note:     are for ask                                 
 FRA       prices                               
 quotes                                         
 *********************************************         
 *****************                              
    

 (Reporting by Luiza Ilie in Bucharest and Anita Komuves in
Budapest; Editing by Kirsten Donovan)
  
 
 
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