CEE MARKETS-Stocks fall, FX stable as investors digest latest tariff news
BUDAPEST, July 14 (Reuters) - Most central European stocks moved lower on Monday while currencies were mostly stable after U.S. President Donald Trump said on Saturday he would impose a 30% tariff on imports from the EU and Mexico starting August 1.
European shares fell, led by automobiles, following Trump's latest tariff moves as the EU said on Sunday that it would extend its suspension of countermeasures to U.S. tariffs until early August and continue to press for a negotiated settlement.
Prague's stocks .PX led losses in the CEE region as they slid 0.4%. Budapest's .BUX blue chip index was 0.3% lower while Warsaw .WIG20 eased 0.2%. Bucharest's .BETI equities bucked the trend as they added 0.5%.
The Polish zloty EURPLN= was mostly stable, trading at 4.2625 per euro.
Tariff news and global trade tensions could weaken the zloty on Monday, Bank Millennium wrote in a client note.
"Balance of payments data may also weaken the zloty," the bank said.
On Monday, the National Bank of Poland will release its balance of payments data for May. Analysts polled by Reuters estimate that the current account deficit in May was 785 million zlotys ($215.16 million), compared to a deficit of 374 million zlotys ($102.51 million) in April.
The Hungarian forint EURHUF= edged higher but held near the psychologically important 400 level, which it fell to on Friday. It edged up 0.02% on the day to trade at 400.05 per euro.
"In the case of EUR/HUF, ... we saw the 400 level as neutral for now, ... a move up from 399 looks fair," analysts at ING wrote in a note.
"At the same time, the risk is some long HUF positioning in the market, which could accelerate a sell-off in case of more pressure here," they said.
Elsewhere, the Czech crown EURCZK= added 0.08% to trade at 24.656 per euro.
The Romanian leu EURRON= edged up 0.06% to trade at 5.0786 per euro.
CEE MARKETS SNAPSHOT AT 0952 CET | |||||
CURRENCIES | Latest trade | Previous close | Daily change | Change in 2025 | |
Czech crown | EURCZK= | 24.6600 | 24.6800 | +0.08% | +2.23% |
Hungary forint | EURHUF= | 400.2000 | 400.2500 | +0.01% | +2.80% |
Polish zloty | EURPLN= | 4.2620 | 4.2670 | +0.12% | +0.35% |
Romanian leu | EURRON= | 5.0786 | 5.0815 | +0.06% | -2.01% |
Serbian dinar | EURRSD= | 117.1000 | 117.1500 | +0.04% | -0.13% |
Note: daily change calculated from 1800 CET | |||||
| |||||
STOCKS | Latest | Previous close | Daily change | Change in 2025 | |
Prague | .PX | 2157.70 | 2169.4600 | -0.54% | +22.58% |
Budapest | .BUX | 99628.16 | 99921.45 | -0.29% | +25.59% |
Warsaw | .WIG20 | 2860.20 | 2860.93 | -0.03% | +30.48% |
Bucharest | .BETI | 18895.82 | 18858.05 | +0.20% | +13.01% |
| |||||
BONDS | Yield (bid) | Yield change | Spread vs Bund | Daily change in spread | |
Czech Rep 2-year | CZ2YT=RR | 3.4990 | 0.0130 | +162bps | +4bps |
Czech Rep 5-year | CZ5YT=RR | 3.8360 | 0.0020 | +156bps | +2bps |
Czech Rep 10-year | CZ10YT=RR | 4.2480 | 0.0020 | +153bps | +1bps |
Poland 2-year | PL2YT=RR | 4.3970 | 0.0300 | +251bps | +5bps |
Poland 5-year | PL5YT=RR | 4.8540 | -0.0330 | +257bps | -2bps |
Poland 10-year | PL10YT=RR | 5.3350 | -0.0230 | +261bps | -2bps |
| |||||
FORWARD RATE AGREEMENTS | 3x6 | 6x9 | 9x12 | 3M interbank | |
Czech Rep | CZKFRA, PRIBOR= | 3.49 | 3.44 | 3.42 | 3.49 |
Poland | PLNFRA, WIBOR= | 4.59 | 4.21 | 3.86 | 5.03 |
Note: FRA quotes are for ask prices | |||||
($1 = 3.6484 zlotys)
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