CEE Morning Briefing: Hungary's MOL, Richter Earnings in Focus

By Margit Feher

 
TODAY'S CALENDAR 
Local/GMT 
0900/0700 Richter to hold 
          briefing results 
1330/1130 Hungary government 
          weekly briefing 
2400/2200 MOL 1Q earnings 
 

Hungarian oil and gas company MOL Nyrt. (MOL.BU), the country's biggest firm by revenue, will release first-quarter earnings late in the day. MOL's net profit is forecast at 24.3 billion forints ($90 million) for the period, 10 analysts said on average in a poll conducted by MOL. That would be up several-fold from HUF9.1 billion a year earlier.

Hungary's largest drug maker Richter Gedeon Nyrt. (RICHTER.BU) will hold a briefing Thursday after publishing first-quarter earnings in the early hours of the morning. Richter traditionally updates its full-year guidance after each quarter. The latest forecasts from Chief Executive Erik Bogsch will be eyed closely since the company's 2016 projections in February were so conservative that they were practically a profit warning, Erste Bank said.

Hungary's government will hold its weekly press briefing, where the head of the Prime Minister's Office announces measures the government approved at its meeting earlier in the week.

 
FOREX 
 
EUR/CZK 
0250 GMT 27.000-64 
Previous 27.000-64 
%Chg 0.00 
 
EUR/HUF 
0250 GMT 312.75-3.29 
Previous 312.97-3.51 
%Chg -0.07 
 
EUR/PLN 
0250 GMT 4.3970-88 
Previous 4.4001-19 
%Chg -0.07 
 
FIXED INCOME 
 
Hungary 
          Wed    Tue 
3 yrs    1.77%  1.68% 
5 yrs    2.39%  2.30% 
10yrs    3.32%  3.30% 
 
Poland 
          Wed    Mon* 
2 yrs    1.52%  1.50% 
5 yrs    2.27%  2.27% 
10yrs    3.10%  3.09% 
*Polish markets were closed on Tuesday for a national holiday. 
 
Czech Republic 
          Wed    Tue 
3 yrs   -0.08% -0.08% 
5 yrs    0.02%  0.02% 
10yrs    0.42%  0.43% 
 
STOCKS (Closing) 
 
WIG 20 
47020.92 -699.29 -1.47% 
 
BUX 
26212.15 -327.01 -1.23% 
 
PX 
886.9 -9.73 -1.09% 
 
OTHER NEWS 

HUNGARY: Hungary's largest drug maker Richter Gedeon Nyrt. (RICHTER.BU) posted a higher-than-expected net profit for the first quarter of this year as a result of lower research and development expenses, a reassessment of its stake in its Chinese drug distributor and recovering revenues from Russia and Ukraine.

Write to Margit Feher at [e-mail]

(END) Dow Jones Newswires

May 04, 2016 23:27 ET (03:27 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.