CEE MARKETS-Hungary 4iG shares soar 9% on Vodafone deal, forint eases on dismal data

4ig.

09/01/2023 09:29

BUDAPEST, Jan 9 (Reuters) - The Hungarian forint eased
slightly on Monday after disappointing industry output and trade
data, while shares of IT company 4iG surged more than 9% on news
that the company signed a deal to acquire a 51% stake in
Vodafone's Hungarian unit.
    British telecom group Vodafone  VOD.L  said it had agreed
the sale of its Hungarian business to 4iG and the Hungarian
state, and would receive a total cash consideration of 1.7
billion euros ($1.82 billion) from the deal. Shares of 4iG
jumped 9.1% to 766 forints by 0858 GMT on the Budapest Stock
Exchange.
    Also on Monday, data showed that Hungary's industrial output
 HUIND=ECI  rose by an annual 0.5% in November, well below
analyst forecasts for a 4.3% increase, signalling an
accelerating slowdown in the economy, which is set to worsen
this year.
    At the same time, the country's trade deficit widened
sharply in November, largely due to surging energy imports.
    The forint  EURHUF=  dropped 0.2% to 396.20 to the euro in
morning trade after substantial gains last week amid improving
global sentiment and a large fx bond issue by Hungary. Poland's
zloty  EURPLN=  was up 0.2%. 
    The Czech crown EURCZK=  was broadly steady around 24.017
versus the euro. 
    It has found a slow-but-steady firming path in recent weeks
as sentiment in global and central European markets improved due
to falling gas prices, lifting some worry over a European energy
crunch. It has also been supported by the Czech National Bank,
which has maintained a pledge to intervene to prevent any sharp
weakening as it fights inflation. 
    Despite some "hawkish" tones in the minutes, markets
generally see stable interest rates ahead for the Czech central
bank and others in central Europe — where tightening started
already in 2021, before hikes by global peers.
    A Reuters poll on Friday showed analysts forecast the crown
to weaken back to 24.50 by the end of the year, despite trading
below 24 for the first time since 2011 to begin the year.
                   CEE      SNAPSHO   AT                      
                   MARKETS  T        0949              
                                     CET               
                            CURRENC                           
                            IES                        
                            Latest   Previou  Daily    Change
                                     s                 
                            bid      close    change   in 2023
 EURCZK  Czech                                       
 EURHUF  Hungary                0        0           
 EURPLN  Polish                                      
 EURRON  Romanian                                    
 EURHRK  Croatian                                    
 EURRSD  Serbian                0        0           
         Note:     calculated from            1800            
         daily                                CET      
         change                                        
                                                              
                            Latest   Previou  Daily    Change
                                     s                 
                                     close    change   in 2023
 .PX     Prague     .PX     1264.32  1249.31   +1.20%   +5.21%
                                          00           
 .BUX    Budapest   .BUX    45536.9  45419.7   +0.26%   +3.98%
                                  7        8           
 .WIG20  Warsaw    <.WIG20  1882.07  1856.05   +1.40%   +5.03%
                   >                                   
 .BETI   Buchares   .BETI   12169.8  12135.0   +0.29%   +4.34%
         t                        0        6           
 .SBITO  Ljubljan  <.SBITO  1067.01  1065.90   +0.10%   +1.74%
 P       a         P>                                  
 .CRBEX  Zagreb    <.CRBEX  2013.15  2006.79   +0.32%   +666.1
                   >                                        3%
 .BELEX  Belgrade  <.BELEX   825.95   824.61   +0.16%   +0.16%
 15                15>                                 
 .SOFIX  Sofia     <.SOFIX   604.72   604.72   +0.00%   +0.54%
                   >                                   
                                                              
                            Yield    Yield    Spread   Daily
                            (bid)    change   vs Bund  change
                                                       in
         Czech                                         spread
         Republic                                      
 CZ2YT=    2-year                                s  
 CZ5YT=    5-year                                s  
 CZ10YT                                         s  
         Poland                                               
 PL2YT=    2-year                                s  
 PL5YT=    5-year                                s  
 PL10YT                                         s  
                   FORWARD                                    
                            3x6      6x9      9x12     3M
                                                       interba
                                                       nk
         Czech                                      
         Hungary                                     
         Poland                                      
         Note:     are for ask                                
         FRA       prices                              
         quotes                                        
         ********************************************         
         ******************                            
                                                              
 (Reporting by Krisztina Than and Jason Hovet in Prague; editing
by Uttaresh.V)
 ((krisztina.than@thomsonreuters.com))
 
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