CEE MARKETS-Budapest, Prague stocks hit record highs on recovery hopes

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By Anita Komuves BUDAPEST, Aug 4 (Reuters) – Central European stocks extended their advance on Wednesday, with indexes in Budapest and Prague scaling fresh highs as they tracked a rise in global markets, while better than expected corporate earnings also boosted the region’s bourses. Equities in Europe and the United States extended gains as second-quarter results fuelled optimism about a fast recovery from the crisis caused by the coronavirus pandemic. Budapest’s blue chip index was up 0.86% and hit a record high on Wednesday. Pharmaceutical company Richter outperformed the wider market for a second session, gaining 1.28% by 0915 GMT. The company reported better than expected second-quarter results on Tuesday. Warsaw’s main index gained 0.84%. Shares in Bank Pekao were up 3.66% by 0918 GMT after the company reported a rise in net profit in the second quarter. Stocks in Prague were up 0.45% and reached a near 10-year high. Bucharest gained 0.49%. Most…

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