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CEE MARKETS-Zloty firms ahead of cenbank meeting, stocks gain on global cues

·3 min read

By Anita Komuves BUDAPEST, Sept 7 (Reuters) - The Polish zloty led gains among central European currencies on Tuesday, while most equities in the region firmed on strong global cues, with Hungarian shares touching a record high. World stocks hit fresh peaks on Tuesday on growing bets that the U.S. Federal Reserve will keep its expansive policy for the near-term. Budapest's stocks added 0.29% while Prague was 0.31% higher. Bucharest gained 0.24%, while Warsaw bucked the trend and weakened 0.85%. The Polish zloty recouped some losses from the previous session and firmed 0.11% to 4.5210 per euro, a day before the central bank's rate meeting where a Reuters poll of analysts suggests the main rate will stay unchanged. "The zloty remains under pressure from yesterday's mild comments of the governor of the National Bank of Poland," Bank Millennium wrote in a note. The governor of Poland's central bank, Adam Glapinski, said on Monday that hiking rates poses a risk after inflation in emerging Europe's largest economy hit a two-decade high in August. Glapinski has stressed that hiking rates too soon could jeopardise economic recovery from the pandemic. The zloty has been under pressure as Polish policymakers have kept rates record lows, unlike their Hungarian and Czech counterparts who tightened their policies in June to fight rising inflation. The Hungarian forint edged up 0.04% and was trading at 347.5 per euro. "The currency tried to firm past the 347 level several times recently, and unsuccessfully. I think it will not be able to permanently do so until the next rate meeting," an FX trader in Budapest said. The National Bank of Hungary holds its next rate meeting on Sept. 21. Hungary's industrial output grew by an annual 8% in July based on preliminary unadjusted data, below forecasts, as the car sector shrank due to production halts and single-shift production, the Central Statistics Office said on Tuesday. The Romanian leu edged up 0.02% to 4.9475 per euro, still trading near record lows a day after a junior partner quit Romania's three-party coalition, paving the way for a no-confidence vote against Liberal Prime Minister Florin Citu. CEE SNAPSHO AT MARKETS T 1043 CET CURRENC IES Latest Previous Daily Change bid close change in 2021 EURCZK= Czech % EURHUF= Hungary 0 % EURPLN= Polish % EURRON= Romanian EURHRK= Croatian % EURRSD= Serbian 0 % Note: calculated from 1800 daily CET change Latest Previous Daily Change close change in 2021 .PX Prague 1294.70 1290.730 +0.31% +26.0 0 5% .BUX Budapest 52895.9 52743.09 +0.29% +25.6 3 2% .WIG20 Warsaw 2395.91 2416.38 -0.85% +20.7 6% .BETI Buchares 12386.6 12356.75 +0.24% +26.3 t 9 2% .SBITOP Ljubljan <.SBITOP 1198.98 1199.18 -0.02% +33.0 a > 9% .CRBEX Zagreb 1958.94 1959.38 -0.02% +12.6 3% .BELEX1 Belgrade <.BELEX1 802.38 805.19 -0.35% +7.18 5 5> % .SOFIX Sofia 563.19 560.71 +0.44% +25.8 4% Yield Yield Spread Daily (bid) change vs Bund change in Czech spread Republic CZ2YT=R 2-year s CZ5YT=R 5-year s CZ10YT= s Poland PL2YT=R 2-year s PL5YT=R 5-year s PL10YT= s FORWARD 3x6 6x9 9x12 3M interb ank Czech 1.69 2.11 2.27 1.02 Rep Hungary 2.11 2.25 2.33 1.60 Poland 0.46 0.74 0.98 0.24 Note: are for ask FRA prices quotes ********************************************** **************** (Additional reporting by Alan Charlish in Warsaw and Radu-Sorin Marinas in Bucharest; Editing by Ramakrishnan M.)