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RGEDF Chemical Works of Richter Gedeon PLC (PK)

24.905
0.00 (0.00%)
01 Jul 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Chemical Works of Richter Gedeon PLC (PK) USOTC:RGEDF OTCMarkets Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 24.905 16.49 29.70 0.00 21:18:26

CEE Morning Briefing: Czech Political Power Struggle, 3Q Earnings in Focus

31/10/2013 2:51am

Dow Jones News


Chemical Works of Richte... (PK) (USOTC:RGEDF)
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From Jul 2019 to Jul 2024

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By Veronika Gulyas

 
TODAY'S CALENDAR 
Local/GMT 
0900/0800 Richter briefing on 3Q results 
1130/1030 Hungary T-bond auction 
1400/1300 Polish inflation expectations 
N/A       BRE Bank 3Q Results 
N/A       Czech Social Democrat party meeting 
 

The post-elections political brawl in the Czech Republic and third-quarter company earnings will be the main points of focus for the regions investors on Thursday.

In Prague, the Czech Social Democratic Party will hold a special meeting of its senior leadership to clarify whether its members and President Milos Zeman tried to overthrow party Chairman Bohuslav Sobotka and replace him with a person closer to Mr. Zeman.

Despite winning the most votes during last weekend's election, its 20.5% share was the Social Democrats' worst showing since the dissolution of Czechoslovakia in 1993.

Any comment from Mr. Zeman on his role in the power struggle in the Social Democrats will be crucial for the outlook of a future Czech government. The President alone has the authority to decide who will lead coalition talks, and it is uncertain if the CSSD or a competing party will get the nod.

In Warsaw, BRE Bank SA (BRE.WA), the Polish unit of German lender Commerzbank AG (CBK.XE) will publish its third-quarter results amid increasing risks stemming from slow economic growth in the region's largest economy.

Hungary's debt management center will seek to sell a total of 45 billion forints ($212 million) worth of bonds at an auction, offering three-, five- and 10-year bonds in the process.

 
FOREX 
 
EUR/CZK 
Latest 0150 GMT 25.686-798 
Previous 2150 GMT 25.689-760 
%Chg +0.07 
 
EUR/HUF 
Latest 0150 GMT 293.44-4.60 
Previous 2150 GMT 293.59-4.30 
% Chg  +0.03 
 
EUR/PLN 
Latest 0150 GMT 4.1765-886 
Previous 2150 GMT 4.1775-854 
% Chg +0.03 
 
FIXED INCOME 
 
Hungary 
         Wed    Tues 
3 yrs    4.15%  4.15% 
5 yrs    4.57%  4.53% 
10yrs    5.36%  5.32% 
 
Poland 
         Tues   Mon 
3 yrs    2.97%  2.95%(1) 
5 yrs    3.44%  3.40% 
10yrs    4.11%  4.10% 
(1) 2 yrs 
 
Czech Republic 
         Wed    Tues 
3 yrs    0.37%  0.37% 
5 yrs    1.01%  1.02% 
10yrs    2.23%  2.24%(1) 
(1) 11 yrs 
STOCKS 
 
WIG 20 
2,553.51-21.09-0.82% 
 
BUX 
3,885.04+3.98+0.10% 
 
PX 
1,017.10-0.19-0.02% 
 
 
OTHER NEWS 

POLAND: There is no rush for Poland to adopt the euro and more work is needed in both the country and the European Union's single-currency area before the move, Dutch Finance Minister and Eurogroup head Jeroen Dijsselbloem said Wednesday.

"My position is that both the euro zone and Poland have work to do," said Mr. Dijsselbloem, who chairs the group of euro-zone finance ministers, at a press conference at the Polish finance ministry. "There is no pressure."

CZECH REPUBLIC: Czech Social Democrats are facing a schism after a worse-than-expected showing in weekend parliamentary elections, further complicating government-building talks in a fragmented new legislature.

Chairman Bohuslav Sobotka faced calls from other politicians to resign immediately after the vote. Those calls came after a secret meeting on Saturday between President Milos Zeman and members of Mr. Sobotka's party. The chairman and others in the party's leadership weren't made aware of the meeting, which took place while the chairman was on a live televised debate.

HUNGARY: Hungary wants the U.S. to clarify if Budapest has served as a location for National Security Agency monitoring equipment, the foreign ministry said Wednesday.

According to a map published by WikiLeaks, the Hungarian capital is among the 74 cities that have been home to NSA eavesdropping equipment. The map suggests Budapest was a staffed location--meaning that agents of the Special Collection Service, a joint unit of the NSA and the CIA--were active there.

HUNGARY: Hungary's largest home-grown drug maker Richter Gedeon Nyrt. (RICHTER.BU) saw its net profit rise significantly above analysts' expectations in the July-September period, by 26% versus a year ago helped by a stabilizing Hungarian regulatory system and only slightly widening financial loss on foreign currency rate fluctuations, figures published by the company showed Thursday.

Write to Veronika Gulyas at veronika.gulyas@wsj.com

Go to http://blogs.wsj.com/new-europe for the new Dow Jones blog on Central and Eastern Europe, covering business, politics, society and more, written by our correspondents across the region.

1 Year Chemical Works of Richte... (PK) Chart

1 Year Chemical Works of Richte... (PK) Chart

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