Markets & Finance News

Global stock markets hit new record highs on Friday, boosted by forecast-beating corporate earnings, but the dollar and Treasury yields fell after data showed U.S. consumer confidence plummeted in early August.

Global stock markets hit new record highs on Friday, boosted by forecast-beating corporate earnings, but the dollar and Treasury yields fell after data showed U.S. consumer confidence plummeted in early August.

Global stock markets hit new record highs on Friday, capping another bumper week as investors seized on a dip in U.S. inflation and more forecast-beating corporate earnings.

Sri Lankan shares edged up on Friday as financial stocks gained, but closed the week lower as the country posted a record single-day death toll due to COVID-19.

European stocks hit new highs on Friday and were on course for a record-breaking run, capping another strong week as investors seize on a dip in U.S. inflation and more forecast-beating corporate earnings.

The U.S. dollar consolidated a second consecutive week of gains on Friday versus its major rivals as investors weighed the possibility of the Federal Reserve announcing its plans to reduce its stimulus in the coming weeks.

* reuters://realtime/verb=Open/url=cpurl://apps.cp./Apps/econ-polls?RIC=THGDPQ%3DECI poll data

The Polish zloty firmed on Friday, regaining some of its losses from this week after a central banker said on Thursday he would vote for a rate hike in November, while GDP data showed the economy was rebounding from the pandemic. Polish central banker Jerzy Kropiwnicki said he would vote for a 15 basis point rate hike in November when the bank publishes its updated macroeconomic forecasts, assuming the outlook for economic growth was good. "More and more MPC members ... have recently been talking about November as a possible moment for a turn in monetary policy," ING wrote in a note. "Yesterday's declaration by Kropiwnicki is, however, the most far-reaching support for our scenario of a change." Poland's GDP rose 10.9% year-on-year in the second quarter compared with a 0.9% fall in the previous quarter, data showed on Friday. "It confirms that the economy is rebounding strongly after the pandemic and ... that already in the second quarter Poland's GDP has returned to a level that is even slightly above the pre-pandemic level," Piotr Bielski, director of economic analysis at Santander Bank Polska, said. The zloty was up 0.1% on the day and was trading at 4.571 per euro. The currency has recently been pressured by the central bank's continued dovish policy and by tension between Warsaw and Brussels over judicial reform and the disbursement of EU funds. Markets were also concerned by a law passed on Wednesday that strengthened a ban on firms from outside the European Economic Area controlling Polish broadcasters, which drew criticism from the United States. Elsewhere, the Czech crown firmed 0.08% to 25.370 to the euro. The Hungarian forint edged down 0.01% to trade at 352.77, still near a one-month high. The forint is testing a resistance level at 352.30, which has stopped its firming several times in the past week, brokerage Equilor wrote. Most stocks in the region slid, with Prague down 0.1% while Budapest was 0.2% lower. Warsaw eased 0.13%. Bucharest bucked the trend and gained 0.14%. CEE SNAPSHO AT MARKETS T 1051 CET CURRENC IES Latest Previous Daily Change bid close change in 2021 EURCZK= Czech <EURCZK= 25.3700 25.3900 +0.08% +3.39% crown > EURHUF= Hungary <EURHUF= 352.770 352.7500 -0.01% +2.82% forint > 0 EURPLN= Polish <EURPLN= 4.5710 4.5755 +0.10% -0.26% zloty > EURRON= Romania <EURRON= 4.9125 4.9115 -0.02% -0.97% n leu > EURHRK= Croatia <EURHRK= 7.4970 7.4995 +0.03% +0.67% n kuna > EURRSD= Serbian <EURRSD= 117.480 117.5500 +0.06% +0.08% dinar > 0 Note: calculated from 1800 daily CET change Latest Previous Daily Change close change in 2021 .PX Prague 1271.59 1272.870 -0.10% +23.80 0 % .BUX Budapes 50189.8 50289.64 -0.20% +19.19 t 1 % .WIG20 Warsaw 2294.66 2297.72 -0.13% +15.66 % .BETI Buchare 12134.4 12116.93 +0.14% +23.75 st 9 % .SBITOP Ljublja <.SBITOP 1187.56 1189.03 -0.12% +31.83 na > % .CRBEX Zagreb 1959.73 1960.36 -0.03% +12.67 % .BELEX1 Belgrad <.BELEX1 796.59 792.14 +0.56% +6.41% 5 e 5> .SOFIX Sofia 583.82 583.64 +0.03% +30.45 % Yield Yield Spread Daily (bid) change vs Bund change in Czech spread Republi c CZ2YT=R <CZ2YT=R 1.6930 0.0250 +244bp +3bps R 2-year R> s CZ5YT=R <CZ5YT=R 1.8440 0.0090 +257bp +1bps R 5-year R> s CZ10YT= <CZ10YT= 1.8770 -0.0010 +234bp +0bps RR 10-year RR> s Poland PL2YT=R <PL2YT=R 0.3820 -0.1130 +113bp -11bps R 2-year R> s PL5YT=R <PL5YT=R 1.1540 -0.0180 +188bp -2bps R 5-year R> s PL10YT= <PL10YT= 1.8140 -0.0020 +228bp +0bps RR 10-year RR> s FORWARD 3x6 6x9 9x12 3M interba nk Czech 1.67 2.05 2.24 0.97 Rep <PRIBOR= > Hungary 2.09 2.18 2.29 1.37 Poland 0.46 0.66 0.88 0.21 Note: are for ask FRA prices quotes ********************************************* ***************** (Reporting by Anita Komuves in Budapest, Alan Charlish in Warsaw and Jason Hovet in Prague Editing by David Holmes )

* S.African rand falls, COVID-19 curbs should stay- Health Min

* reuters://realtime/verb=Open/url=cpurl://apps.cp./Apps/econ-polls?RIC=IDTRD%3DECI poll data