Unusual decline in CE despite good performance
Some of the largest companies in the central European region may have unusual price changes in their own markets after EU’s stress tests.
Poland’s WIG20 Index gained 0.2 percent, the Czech PX Index dropped 0.3 percent and Hungary’s BUX Index fell 1.5 percent.
Földhitel és Jelzálogbank Nyrt, Hungary’s second-largest mortgage lender passed the stress test and its capital buffer was 73.6 million euros ($95 million) under the tests. FHB lost 1.6 percent to 1,121 forint. OTP Bank Nyrt Hungary’s largest lender said European Union regulators found it also has sufficient capital to withstand a recession and a sovereign crisis. The bank’s capital buffer was 2.7 billion euros under the tests. OTP declined 3.6 percent to 5,031 forint.
PKO Bank Polski SA Poland’s largest lender could also meet expectations about a possible recession scenario, in terms of capita. The bank’s capital buffer was 2.83 billion euros under the tests. PKO rose 1.8 percent to 39.7 zloty.
Other than the stress test, Polskie Gornictwo Naftowe i Gazownictwo Poland’s dominant gas company plans to ask the energy regulator to allow it to increase prices by an average of 10 percent from October, Rzeczpospolita reported, without saying where it got the information. Gornictwo slid 0.6 percent to 3.57 zloty. (Bloomberg, BBJ)
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