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Alan Charlish

Polish charity condemns church's response to abuse allegations

Mar 18 2019

WARSAW A Polish charity helping victims of child abuse committed by Catholic priests condemned the church's unapologetic response to its allegations as "offensive" on Monday.

Hungary's Orban says his party could quit EU's conservative bloc

Mar 08 2019

BUDAPEST/WARSAW Hungary's Prime Minister Viktor Orban said on Friday his nationalist Fidesz party may leave Europe's main conservative group over a row about anti-EU election campaigning.

CEE MARKETS-Leu leads currency firming, stocks mostly ease

Feb 27 2019

* Leu leads rise as CEE currencies set or test multi-week highs * Hopes help leu for end of uncertainty over bank tax * Local factors move stock indexes rather than global gloom (Recasts with Romanian finance minister comments and leu surge, comments from Hungarian Prime Minister Orban and dealer) By Sandor Peto and Alan Charlish BUDAPEST/WARSAW, Feb 27 The leu led Central European currencies higher on Wednesday after Romanian Finance Minister Eugen Teodorovici pledged to end uncertainty over a bank tax. Regional currencies were helped by a weaker dollar, hawkish central bank comments from Budapest and hopes that Britain will not quit the European Union without a deal. The Romanian leu touched a two-week high at 4.732 against the euro, before retreating to 4.7415 by 1421 GMT, still up by 0.4 percent. A new tax effective this year would exempt several types of financial assets, Teodorovici said ahead of a meeting with banks, which he said could dispel fears and uncertainty. Banca Transilvania shares still fell by 3.8 percent after the lender reported a modest rise in 2018 profits. . Its fall was the main cause of a 1.1 percent decline in Bucharest's bluechip stock index. The region's stock indexes were driven by local factors. Prague's index rose by 0.2 percent, lifted by 1.5 percent rise in the shares of MONETA after Home Credit Group pulled out of a deal to sell its Czech and Slovak businesses to the Czech bank. Budapest's main index fell as OTP Bank struggled to break through a technical resistance level at 11,850 forints ($42.68) for the third day, ahead of the release of its fourth-quarter earnings on Friday. Regional government bond markets were steady, eyeing comments from Prime Minister Viktor Orban and the central bank that in the longer term all Hungarian state debt should be held by domestic investors. Foreign investors currently hold 4.24 trillion forints ($15.28 billion) worth of forint-denominated government bonds, about a third of such papers, and most of Hungary's foreign currency bonds worth about 4.9 trillion forints. The forint hits its strongest level since Feb. 1 at 316.16 versus the euro. At 1421 GMT it traded at 316.34, still up 0.1 percent, while the zloty firmed 0.2 percent to 4.316. They were buoyed by a weakening of the dollar after Federal Reserve Chair Jerome Powell on Tuesday stuck to the central bank's "patient" stance on further interest rate increases. "Direction of flows changed on Monday. London banks, responsible for EURPLN buying for last 2 weeks, have been on the offer," one Warsaw-based dealer said, adding that hopes for a delay in Brexit and profit taking helped. CEE SNAPSHOT AT MARKETS 1521 CET CURRENCI ES Latest Previous Daily Change bid close change in 2019 Czech <EURCZK= 25.6600 25.6500 -0.04% +0.18% crown > Hungary <EURHUF= 316.3400 316.6000 +0.08% +1.50% forint > Polish <EURPLN= 4.3160 4.3254 +0.22% -0.61% zloty > Romanian <EURRON= 4.7415 4.7625 +0.44% -1.85% leu > Croatian <EURHRK= 7.4300 7.4275 -0.03% -0.27% kuna > Serbian <EURRSD= 118.0100 118.1700 +0.14% +0.25% dinar > Note: calculated from 1800 CET daily change Latest Previous Daily Change close change in 2019 Prague 1067.46 1065.390 +0.19% +8.20% 0 Budapest 40580.44 40819.08 -0.58% +3.68% Warsaw 2354.66 2365.93 -0.48% +3.43% Bucharest 7688.27 7775.17 -1.12% +4.13% Ljubljana <.SBITOP 844.13 844.39 -0.03% +4.96% > Zagreb 1779.86 1782.77 -0.16% +1.78% Belgrade <.BELEX1 684.52 680.12 +0.65% -10.13% 5> Sofia 592.28 591.07 +0.20% -0.37% BONDS Yield Yield Spread Daily (bid) change vs Bund change in Czech spread Republic 2-year <CZ2YT=R 1.8260 0.0420 +238bps +4bps R> 5-year <CZ5YT=R 1.8080 -0.0040 +216bps -2bps R> 10-year <CZ10YT= 1.9160 -0.0130 +178bps -4bps RR> Poland 2-year <PL2YT=R 1.6230 -0.0890 +217bps -9bps R> 5-year <PL5YT=R 2.2720 0.0180 +262bps +1bps R> 10-year <PL10YT= 2.8840 0.0210 +275bps +0bps RR> FORWARD RATE AGREEMEN T 3x6 6x9 9x12 3M interban k Czech Rep 2.26 2.32 2.35 2.02 <PRIBOR= > Hungary 0.38 0.62 0.79 0.15 Poland 1.74 1.74 1.74 1.72 Note: FRA are for ask prices quotes ************************************************* ************* ($1 = 277.5200 forints) (Additional reporting by Luiza Ilie in Bucharest; Editing by Toby Chopra)

CEE MARKETS-Currencies test multi-week highs, stocks track Asian fall

Feb 27 2019

* Currencies reach or test multi-week highs despite stocks fall * Dollar retreat, hawkish Hungarian comments help currencies * Stocks track decline of Asian and Western European peers * Banca Transilvania falls after earnings report By Sandor Peto and Alan Charlish BUDAPEST/WARSAW, Feb 27 Central European currencies shrugged off a global decline in stock prices on Wednesday, strengthened by a weaker dollar and hawkish central bank comments from Budapest. The region's main currencies hit or tested multi-week highs. The zloty and the leu were up 0.2 percent against the euro by 1003 GMT, while the forint and the Czech crown firmed by 0.1 percent. Hungary's central bank kept interest rates on hold on Tuesday, but its comments underpinned expectations that it could start to tighten policy in March after keeping its base rate at record lows for almost three years. The comments helped the forint and also supported a rebound in the zloty, Santander bank analysts said in a note. A retreat in the dollar index provided a favourable international backdrop, while the possibility of a delay in Britain's exit from the European Union also improved sentiment somewhat, market participants said. The zloty rose to its strongest level since Feb. 11, at 4.3156 to the euro. "It's a natural reaction to other emerging market currencies strengthening," one Warsaw dealer said. Investors watched an escalation of border tensions between India and Pakistan, but the negative impact was limited to stocks. The leu approached this month's strongest level against the euro, while Bucharest led a decline in equities in the region, with its bluechip index shedding 0.9 percent. Banca Transilvania led the weakening of Romanian shares, shedding 3.2 percent after reporting a modest rise in 2018 profits. Romanian stocks have suffered since the government announced new taxes on banks and energy companies in December. A decree on how Romania's new taxes will be applied is in parliament and will undergo changes, but there is uncertainty over the details. Finance Minister Eugen Teodorovici said on Wednesday that he hoped to find a solution on the bank tax soon to dispel fears, and unveil a set of investment-friendly measures next month. Elsewhere in the region, Budapest stocks shed more than Czech and Polish peers, down half a percent. OTP Bank was the main driver, easing 0.5 percent after failing to break through a technical resistance level at 11,850 forints ($42.68) in recent days. CEE SNAPSHOT AT MARKETS 1103 CET CURRENCI ES Latest Previous Daily Change bid close change in 2019 Czech <EURCZK= 25.6280 25.6500 +0.09% +0.31% crown > Hungary <EURHUF= 316.4000 316.6000 +0.06% +1.48% forint > Polish <EURPLN= 4.3185 4.3254 +0.16% -0.67% zloty > Romanian <EURRON= 4.7515 4.7625 +0.23% -2.05% leu > Croatian <EURHRK= 7.4300 7.4275 -0.03% -0.27% kuna > Serbian <EURRSD= 118.0500 118.1700 +0.10% +0.21% dinar > Note: calculated from 1800 CET daily change Latest Previous Daily Change close change in 2019 Prague 1062.65 1065.390 -0.26% +7.71% 0 Budapest 40611.90 40819.08 -0.51% +3.76% Warsaw 2357.23 2365.93 -0.37% +3.54% Bucharest 7707.92 7775.17 -0.86% +4.39% Ljubljana <.SBITOP 843.12 844.39 -0.15% +4.83% > Zagreb 1784.35 1782.77 +0.09% +2.03% Belgrade <.BELEX1 680.03 680.12 -0.01% -10.72% 5> Sofia 590.29 591.07 -0.13% -0.70% BONDS Yield Yield Spread Daily (bid) change vs Bund change in Czech spread Republic 2-year <CZ2YT=R 1.8520 0.0680 +241bps +7bps R> 5-year <CZ5YT=R 1.8340 0.0220 +219bps +2bps R> 10-year <CZ10YT= 1.9630 0.0330 +184bps +3bps RR> Poland 2-year <PL2YT=R 1.6040 -0.1080 +216bps -10bps R> 5-year <PL5YT=R 2.2520 -0.0020 +261bps -1bps R> 10-year <PL10YT= 2.8680 0.0050 +275bps +0bps RR> FORWARD RATE AGREEMEN T 3x6 6x9 9x12 3M interban k Czech Rep 2.26 2.32 2.35 2.02 <PRIBOR= > Hungary 0.38 0.62 0.84 0.15 Poland 1.74 1.74 1.74 1.72 Note: FRA are for ask prices quotes ************************************************* ************* ($1 = 277.6500 forints) (Additional reporting by Luiza Ilie in Bucharest; Editing by Kevin Liffey)

Israel should apologize to Poland in Holocaust row: U.S. ambassador to Warsaw

Feb 20 2019

WARSAW Washington's ambassador to Warsaw on Wednesday called on Israel to apologize to Poland in a row between the two countries over the Holocaust, after Israel's acting foreign minister said "many Poles" had collaborated with the Nazis.

Poland pulls out of Israel summit in row over WW2 role

Feb 19 2019

WARSAW/JERUSALEM Poland pulled out of a planned summit in Israel after Israel's acting foreign minister said on Monday that "many Poles" had collaborated with the Nazis in World War Two and shared responsibility for the Holocaust. | Video

France's Dassault Systemes' shares jump as flagship platform drives growth

Feb 06 2019

French software company Dassault Systemes said on Wednesday fourth-quarter revenue topped its guidance on a strong performance by its flagship software platform, sending its shares up over 7 percent.

Silicon eyed as way to boost electric car battery potential

Nov 15 2018

The race to build a better electric car battery is turning to silicon, with several companies working to engineer types of the material that can boost driving range and cut production costs.

Atos pledges remedial action as shares drop on reduced growth outlook

Oct 23 2018

French IT services company Atos is acting to address a poor commercial performance in North America and Germany, which led to a cut in 2018 revenue guidance that sent its shares down more than 20 percent on Tuesday, the company's management said.

UPDATE 2-Atos pledges remedial action as shares drop on reduced growth outlook

Oct 23 2018

* Company targets 2018 organic revenue growth of about 1 percent

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