The PX-50 index gained 1.5% on a volume slightly exceeding the long-term average. A few buy programs for the whole market helped us to trade in positive territory, while neighboring markets (Hungary and Poland) traded in the red on profit taking. Moreover, investors are positioning themselves ahead of the Hungarian quarterly earnings season kicking off this Wednesday with Magyar Telekom. We expect the market to sustain its positive momentum from yesterday as again we don’t see any local catalyst that could revert the trend.
Unemployment (October): Patria estimate 8.6%; Reuter’s poll median value 8.6%
CPI (October): Patria estimate 0.6% m/m, 2.2% y/y; Reuter’s median poll value 0.6% m/m, 2.3% y/y.