January 31, 2020 / 11:20 AM / 17 days ago

CEE MARKETS-Stocks recover slightly; coronavirus fears persist

    By Joanna Plucinska
    WARSAW, Jan 31 (Reuters) - Central Europe's stock markets
recovered slightly on Friday after falling sharply this week as
investors assessed the economic impact of a fast-spreading viral
outbreak in China that has killed 213 people so far. 
    The World Health Organization declared on Thursday that the
coronavirus epidemic in China now constitutes a public health
emergency of international concern.
    Emerging stocks fell for the seventh straight session.

    All markets have struggled this week as the virus has spread,
but stocks have been hardest hit. 
    Prague's index recovered by 0.74% from a seven-week low
hit in the previous session, while Budapest was up 0.27%
after hitting an eight-week low on Thursday. 
    Czech-based anti-virus software maker Avast
rebounded after losing a quarter of its value in the past few days
over a data privacy scandal. The firm said on Thursday it would
close its Jumpshot business to alleviate concerns. Its stock was
up 6.6% in Prague, and helped boost the Prague stock exchange
. 
    Warsaw's index, however, fell 0.67% as Poland's
biggest oil refiner Orlen continued to slide after
weaker-than-expected Q4 results on Thursday, analysts said.

    Markets weren't affected by the fact that it is the UK's last
day in the European Union, putting an end to more than three years
of political uncertainties across the region.
    Economic relations between the United Kingdom and the European
Union will be negotiated over the course of the next year.

    Analysts said there would still be economic uncertainty
related to the negotiations, but that it would be less intense
than before the Brexit day and turbulence is likely to be expected
only in the coming months as negotiations go on.
    Currencies in the region remained close to their recent lows
after drops this week. 
    The Czech crown edged up 0.05% to 25.24 to the euro,
while the Hungarian forint rose 0.20% to 336.54 to the
euro. The Polish zloty, however, dropped 0.26%. 
                   CEE        SNAPSHOT   AT  1053                 
                   MARKETS              CET                
                              CURRENCI                            
                              ES                           
                              Latest    Previous   Daily   Change
                              bid       close      change  in 2020
 EURCZK=  Czech                25.2400    25.2525   +0.05   +0.76%
          crown                                         %  
 EURHUF=  Hungary             336.5400   337.2200  +0.20%   -1.60%
          forint                                           
 EURPLN=  Polish                4.3000     4.2890  -0.26%   -1.01%
          zloty                                            
 EURRON=  Romania               4.7770     4.7765  -0.01%   +0.24%
          n leu                                            
 EURHRK=  Croatia               7.4440     7.4413  -0.04%   +0.02%
          n kuna                                           
 EURRSD=  Serbian             117.5000   117.5600  +0.05%   +0.06%
          dinar                                            
          Note:    calculated from                 1800           
          daily                                    CET     
          change                                           
                                                                  
                              Latest    Previous   Daily   Change
                                        close      change  in 2020
 .PX      Prague               1082.34  1074.3900  +0.74%   -2.98%
 .BUX     Budapes             43617.83   43501.99  +0.27%   -5.35%
          t                                                
 .WIG20   Warsaw               2064.90    2079.98  -0.73%   -3.96%
 .BETI    Buchare             10012.38    9949.55   +0.63   +0.35%
          st                                            %  
 .SBITOP  Ljublja               974.52     975.26  -0.08%   +5.26%
          na                                               
 .CRBEX   Zagreb               2038.83    2037.81  +0.05%   +1.06%
 .BELEX1  Belgrad  <.BELEX15    811.03     806.98  +0.50%   +1.17%
 5        e        >                                       
 .SOFIX   Sofia                 572.22     574.27  -0.36%   +0.72%
                                                                  
                              Yield     Yield      Spread  Daily
                              (bid)     change     vs      change
                                                   Bund    in
          Czech                                            spread
          Republi                                          
          c                                                
 CZ2YT=R           <CZ2YT=RR    1.7710     0.0330  +243bp    +4bps
 R        2-year   >                                    s  
 CZ5YT=R           <CZ5YT=RR    1.5540    -0.0560   +217b    -5bps
 R        5-year   >                                   ps  
 CZ10YT=           <CZ10YT=R    1.5180    -0.0300   +193b    -3bps
 RR       10-year  R>                                  ps  
          Poland                                                  
 PL2YT=R           <PL2YT=RR    1.5020    -0.0020   +216b    +0bps
 R        2-year   >                                   ps  
 PL5YT=R           <PL5YT=RR    1.8450     0.0040   +247b    +1bps
 R        5-year   >                                   ps  
 PL10YT=           <PL10YT=R    2.1970     0.0240   +261b    +3bps
 RR       10-year  R>                                  ps  
                   FORWARD                                        
                              3x6       6x9        9x12    3M
                                                           interba
                                                           nk
          Czech            <      2.18       2.17    2.14     2.17
          Rep      PRIBOR=>                                
          Hungary          <      0.34       0.45    0.53     0.23
                   BUBOR=>                                 
          Poland           <      1.74       1.75    1.75     1.71
                   WIBOR=>                                 
          Note:    are for ask prices                             
          FRA                                              
          quotes                                           
    

 (Reporting by Jan Lopatka in Prague, Anna Koper in Warsaw;
Editing by Amy Caren Daniel)
  
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