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CEE MARKETS-Zloty off overnight lows after Polish explosion, stocks fall

Reuters · 11/16/2022 04:00
CEE MARKETS-Zloty off overnight lows after Polish explosion, stocks fall


- The Polish zloty traded down around half a percent on Wednesday, but had pulled back from overnight lows with other central European currencies, after a deadly explosion in NATO member Poland its border with Ukraine on Tuesday.

The missile strike in eastern Poland that killed two people has amplified concerns the war Russia started in Ukraine will spill into countries.

The missile that killed two people in Poland was probably fired from Russia, U.S. President Joe Biden said early on Wednesday.

By 0810 GMT, the Polish zloty EURPLN= was down 0.5% on the day at 4.7075 per euro. Warsaw's blue-chip index .WIG20 was down 0.7% on the day after opening 1.5% lower.

"Today's session on the domestic financial market will be dominated by geopolitical events," Bank Millennium said, adding volatility was likely.

The bank the zloty's first reaction was relatively calm but that "further changes will depend on the reaction of NATO countries to this incident."

NATO ambassadors will hold an emergency meeting on Wednesday.

Elsewhere in the region, the Hungarian forint EURHUF= and Czech crown EURCZK= were flat, while the Romanian leu EURRUON= was down 0.2%.

The forint fell as far as 413.80 per euro on Tuesday, but was trading at 406.50 on Wednesday, 2% higher than lows touched after initial reports of explosions in Poland.

The explosion the Ukrainian border came as Russia unleashed a wave of missiles targeting Ukrainian energy infrastructure.

Oil supplies via the Druzhba pipeline to Europe were interrupted on Tuesday, raising among investors.

Budapest .BUX and Prague .PX were down 0.6% and 0.1% respectively, while Bucharest, which is more illiquid .BETI, rose 0.7%.




CEE MARKETS

SNAPSHOT

AT 0932 CET





CURRENCIES






Latest

Previous

Daily

Change



bid

close

change

in 2022

Czech crown

EURCZK=

24.3100

24.3150

+0.02%

+2.31%

Hungary forint

EURHUF=

406.5000

406.6000

+0.02%

-9.13%

Polish zloty

EURPLN=

4.7100

4.6870

-0.49%

-2.53%

Romanian leu

EURRON=

4.9195

4.9150

-0.09%

+0.58%

Croatian kuna

EURHRK=

7.5420

7.5475

+0.07%

-0.32%

Serbian dinar

EURRSD=

117.2000

117.3000

+0.09%

+0.32%

Note: daily change

calculated from


1800 CET










Latest

Previous

Daily

Change




close

change

in 2022

Prague

.PX

1246.36

1246.8100

-0.04%

#VALUE!

Budapest

.BUX

44036.44

44308.29

-0.61%

-13.18%

Warsaw

.WIG20

1752.03

1769.55

-0.99%

-22.71%

Bucharest

.BETI

11717.71

11656.53

+0.52%

-10.29%

Ljubljana

.SBITOP

1078.59

1073.81

+0.45%

-14.09%

Zagreb

.CRBEX

1906.15

1907.00

-0.04%

-8.33%

Belgrade

.BELEX15

800.46

800.46

+0.00%

-2.48%

Sofia

.SOFIX

595.47

595.14

+0.06%

-6.33%









Yield

Yield

Spread

Daily



(bid)

change

vs Bund

change in

Czech Republic





spread

2-year

CZ2YT=RR

5.7780

-0.3460

+359bps

-37bps

5-year

CZ5YT=RR

5.1900

0.0710

+311bps

+5bps

10-year

CZ10YT=RR

4.9540

-0.0280

+285bps

-4bps

Poland






2-year

PL2YT=RR

7.1050

0.0540

+492bps

+3bps

5-year

PL5YT=RR

7.3570

0.1410

+528bps

+12bps

10-year

PL10YT=RR

7.0920

0.1010

+499bps

+9bps


FORWARD







3x6

6x9

9x12

3M interbank

Czech Rep

CZKFRAPRIBOR=

7.16

6.93

6.62

7.26

Hungary

HUFFRABUBOR=

13.80

13.19

12.38

15.62

Poland

PLNFRAWIBOR=

7.28

7.27

7.04

7.42

Note: FRA quotes

are for ask prices




**************************************************************




(Reporting by Luiza Ilie in Bucharest, Anita Komuves in Budapest, Jason Hovet in Prague and Anna Wlodarczak-Semczuk in Warsaw; Editing by Jason Hovet and Elaine Hardcastle)

((luiza.ilie@thomsonreuters.com; +4021 527 0312; https://www.reuters.com/journalists/luiza-ilie))

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