WOOD Flash – Hungary macro: tough 2020E, attractive 2021E
Hungary has opted to restrict international travel, again, as of 1 September. This announcement reinforces the case for a downgrade in the GDP outlook for 2020/2021E, signalled already by the soft sentiment indices in recent months. Hungary should perform in line with its peers, in our view, notwithstanding a very accommodating monetary strategy. The ongoing COVID-19 complications suggest that it will not be able to recover the lost ground before 2022E.
WOOD & Company is the leading investment bank in Emerging Europe. Founded in 1991 and head-quartered in Prague, our footprint spans the region and touches investors around the globe.
A pioneer in Emerging Europe, WOOD executed many of the first CEE equity trades and landmark investment banking transactions. Our electronic trading platform was the first in the region, and remains the best. We are continually expanding our relevance and reach in these ever-evolving markets.
Our equity market share reflects our stature: 7% in Warsaw, 20% in Bucharest, 16% in Hungary, 40% in Prague and 5% in Vienna. Our distribution is unparalleled, with the largest salesforce in the region, servicing a uniquely diverse investor base.
We couple local expertise with a truly international perspective. With offices on the ground in the region, and in key financial hubs such as London and Milano, we are never far from our clients and we remain at the forefront of what’s afoot in the CEE emerging and frontier landscape.
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