BUDAPEST, June 11 (Reuters) - Shares in Hungarian energy company MOL jumped on Thursday, outperforming the wider market, after it concluded talks with the Serbian government on a shareholders' agreement over its minority stake in Serbia's NIS oil refinery.
MOL shares were up 3.8% by 0802 GMT after the announcement, while Budapest's blue chip index gained 0.8%.
MOL signed an agreement in January to buy the combined Gazprom Neft and Gazprom stakes in Serbia's U.S.-sanctioned NIS refinery, with Washington giving the Russian companies until June 16 to complete the sale.
Negotiations were still ongoing with the seller and the relevant authorities to finalize the transaction, MOL said in a statement.
Elsewhere, Warsaw's equities added 0.9% while Prague was up 0.6%.
Currencies in central Europe were little moved as investors eyed developments in the Middle East and awaited the European Central Bank (ECB) meeting scheduled for later in the day.
The Polish zloty was stable, trading at 4.2510 to the euro, while the Hungarian forint added 0.1% and was trading near recent four-year highs at 355.85 to the euro.
The ECB was all but certain to raise interest rates in the hope of nipping higher inflation in the bud before a surge in energy costs triggered by the war in Iran spreads more broadly across the euro zone economy.
"The main event of the day on Thursday will be the ECB decision," PKO Bank said in a note.
"A market reaction could only occur if President Lagarde's press conference message is sufficiently hawkish to further reinforce market valuations, which currently assume at least one more rate hike in 2H26."
Elsewhere, the Czech crown was down 0.1%, trading at 24.193 per euro, a day after data showed that inflation rose slightly and the central bank said that core inflation remained elevated.
"This is probably not a big game-changer, but it does give the Czech National Bank another small nudge toward a rate hike next week," ING wrote in a note.
The bank has said it will debate whether to keep its main rate at 3.50% or raise it at its next policy meeting on June 18.
CEE MARKETS SNAPSHOT AT 1000
CET
CURRENCIES Late Prev Daily Change
st ious change in
trad clos 2025
e e
Czech 930 710
Hungar 8500 2500 %
forint
Polish 10 00
Romani 80 85
Serbia 3100 3500
dinar
Note: daily change calculated from 1800
CET
STOCKS Late Prev Daily Change
st ious change in
clos 2025
e
Prague 2535 2521 +0.56% -5.60%
.20 .150
0
Budape 1332 1322 +0.79% +20.0
st 71.6 31.0 3%
5 1
Warsaw .50 .10 2%
Buchar 8.88 4.42 6%
BONDS Yiel Yiel Spread Daily
d d vs Bund change
(bid chan in
) ge spread
Czech 60 60 s
2-year
Czech 30 090 s
5-year
Czech 90 370 s
10-yea
r
Poland 40 390 s
Poland 80 150 s
Poland 50 500 s
r
FORWARD RATE 3x6 6x9 9x12 3M
AGREEMENTS interb
ank
Czech Poland Note: FRA quotes are for ask
prices