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CEE MARKETS-Hungary’s stock market outperforms region…

By Anita Komuves BUDAPEST, Aug 7 – Most Central European assets moved sideways on Friday with Hungary’s stock market bucking the trend, driven higher by shares of OTP Bank which reported a profit for the second quarter and was upbeat about the economic recovery. Budapest’s stock index gained 1% as OTP surged 2.9% by 0916 GMT, after it posted a profit of 78.7 billion Hungarian forints ($269.06 million) in Q2 and said risks costs would fall in the second half of the year. Other bourses in the region fell slightly or moved sideways as U.S.-China tensions weighed on sentiment after U.S. President Donald Trump issued bans on popular Chinese apps. Warsaw slid 0.33% by 0930 GMT. The Czech crown extended its losses after the central bank’s decision on Thursday to keep rates unchanged. The currency was 0.18% down on the day at 26.312 per euro, off the maximum below 26.100 reached earlier this week. Governor Jiri Rusnok mentioned uncertainty surrounding the growth outlook and said it was hard to see a return to tightening policy before the middle of next year. “Rusnok’s statement suggested that it is essentially an optimistic scenario, which may point to future reluctance to tighten policy,” Komercni Banka said. Elsewhere, the Hungarian forint edged down 0.04% to 346.25 versus the common currency. “Recently published economic data in the U.S., Germany and Hungary have been better than expected, but infection numbers are going up,” an FX trader in Budapest said. “This, combined with thin summer trade, has led to the forint being stuck between 344 and 347 per euro for more than a week.” The Polish zloty was little moved, trading at 4.4100 to the euro. The Romanian leu was also stable, trading at 4.8375 per euro after the central bank unexpectedly cut its benchmark interest rate by 25 basis points to 1.50% on Wednesday. A Reuters poll on Thursday forecast most currencies in the region would gain in the coming year as worries about a rise in new coronavirus cases diminish and hopes for economic recovery grow. CEE SNAPSHO AT MARKETS T 1041 CET CURRENC IES Latest Previou Daily Change s bid close change in 2020 EURCZK= Czech <EURCZK= 26.3120 26.2650 -0.18% -3.34% crown > EURHUF= Hungary <EURHUF= 346.250 346.100 -0.04% -4.36% forint > 0 0 EURPLN= Polish <EURPLN= 4.4100 4.4108 +0.02% -3.48% zloty > EURRON= Romanian <EURRON= 4.8375 4.8360 -0.03% -1.02% leu > EURHRK= Croatian <EURHRK= 7.4590 7.4613 +0.03% -0.18% kuna > EURRSD= Serbian <EURRSD= 117.500 117.600 +0.09% +0.06 dinar > 0 0 % Note: calculated from 1800 daily CET change Latest Previou Daily Change s close change in 2020 .PX Prague 908.23 906.520 +0.19% -18.59 0 % .BUX Budapest 35768.7 35427.8 +0.96% -22.38 2 2 % .WIG20 Warsaw 1817.14 1818.64 -0.08% -15.49 % .BETI Bucharest 8583.85 8586.78 -0.03% -13.97 % .SBITOP Ljubljana <.SBITOP 836.84 839.32 -0.30% -9.61% > .CRBEX Zagreb 1593.55 1589.98 +0.22% -21.01 % .BELEX1 Belgrade <.BELEX1 667.68 667.92 -0.04% -16.72 5 5> % .SOFIX Sofia 434.53 433.08 +0.33% -23.52 % Yield Yield Spread Daily (bid) change vs Bund change in Czech spread Republic CZ2YT=R 2-year <CZ2YT=R 0.0710 0.0250 +077bp +2bps R R> s CZ5YT=R 5-year <CZ5YT=R 0.3430 -0.0110 +106bp -1bps R R> s CZ10YT= 10-year <CZ10YT= 0.8270 0.0140 +136bp +2bps RR RR> s Poland PL2YT=R 2-year <PL2YT=R 0.1270 0.0000 +082bp -1bps R R> s PL5YT=R 5-year <PL5YT=R 0.6600 -0.0080 +138bp -1bps R R> s PL10YT= 10-year <PL10YT= 1.2750 -0.0010 +181bp +1bps RR RR> s FORWARD 3×6 6×9 9×12 3M interb ank Czech Rep 0.33 0.33 0.35 0.34 <PRIBOR= > Hungary 0.62 0.60 0.60 0.60 Poland 0.18 0.16 0.15 0.23 Note: FRA are for ask quotes prices ********************************************** **************** ($1 = 292.5000 forints) (Additional reporting by Robert Muller in Prague; Editing by Krishna Chandra Eluri)

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