CEE MARKETS 2-FX, stocks recover but Greece stays in view

                                
 * Zloty, forint lead cautious recovery, stocks up
                                
 * Greece main focus, dealers/analysts see no quick relief
                                
 
  (Adds bonds, last quote)
                                
 By Jason Hovet
                                
 PRAGUE, April 29 (Reuters) - Central European currencies and
stocks rebounded on Thursday after assurances from senior
European officials over help for debt-stricken Greece, but
dealers said gains could be capped in the near term.
                                
  ECB Governing Council member Axel Weber said on Thursday
there was no acceptable alternative to rescuing Greece and urged
quick approval of an aid package, while a French budget minister
said the euro zone was determined to help. [ID:nLDE63S0BL]
                                
 Markets have swayed back and forth this week, rebounding on
Wednesday on a push to fast-track Greek aid before giving up
gains late in the session after a Standard & Poor's rating
downgrade for Spain. [ID:nLDE63R0I6]
                                
 Currencies got on a stronger footing on Thursday, led by a
0.4 percent gains for the zloty <EURPLN=> and Hungarian forint
<EURHUF=>, among the most volatile currencies in the region.
                                
 By 0943 GMT, the Czech crown <EURCZK=> and Romanian leu
<EURRON=> edged up less than 0.2 percent. The euro steadied off
one-year lows against the dollar <EUR=>.
                                
 "We are all watching the euro situation at the moment, and
especially the euro/dollar," a Prague dealer said, adding
volumes looked low.
Central European markets, which had been largely immune to
Greece's problems this year due to their relatively strong
growth outlooks and lower debt, have been hit hard this week
after ratings downgrades for three euro zone periphery states.
                                
 Markets fear Greece may not secure aid in time to meet a
deadline of May 19 when a maturing bond needs to be refinanced.
Reservations over the proposed aid from Germany, which would be
the biggest euro zone lender, have slowed the process.
                                
 
                                
 NO QUICK RELIEF
The turmoil has hit investor appetite for central Europe and
pushed the Czechs to delay a Eurobond issue, while Poland said
it may trim its debt issuance. [ID:nLDE63R1J0] [ID:nLDE63R1BF]
                                
 Analysts said pressure was not likely to subside quickly.
                                
 "We are somewhat suspicious towards further development in
the short term," KBC analysts said. "We are afraid current
nervousness around Greece may continue to weigh on the region at
least through the upcoming weekend."
                                
 They added that prospects of the Czech central bank cutting
interest risks next week will hurt the crown, which touched a
seven-week low this week. The possibility of easier monetary
policy was also weighing on the forint.
                                
 On stock markets, Warsaw <.WIG20> and Budapest <.BUX> led
rises with a 0.7 percent gains.Bonds in the region were quiet
after sharp rises in yields from multi-year lows this week, with
dealers saying investors were in wait-and-see mode.
                                
 
--------------------------MARKET SNAPSHOT--------------------
Currency                    Latest   Previous Local    Local
                                
                                  close    currency currency
                                
                                           change   change
                                
                                           today    in 2010 
Czech crown      <EURCZK=>   25.531   25.572  +0.16%   +3.08%
Polish zloty     <EURPLN=>    3.919    3.934  +0.38%   +4.72%
Hungarian forint <EURHUF=>  268.13   269.3    +0.44%   +0.83%
Croatian kuna    <EURHRK=>    7.244    7.246  +0.03%   +0.9%
Romanian leu     <EURRON=>    4.134    4.14   +0.15%   +2.5%
Serbian dinar    <EURRSD=>   99.35    99.323  -0.03%   -3.49%
Yield Spreads
Czech treasury bonds <0#CZBMK=>
2-yr T-bond   CZ2YT=RR    -4 basis points to  71bps over bmk*
7-yr T-bond   CZ7YT=RR   +3 basis points to  +83bps over bmk*
10-yr T-bond   CZ9YT=RR    -3 basis points to  +80bps over bmk*
Hungarian treasury bonds <0#HUBMK=>
3-yr T-bond   HU3YT=RR   +34 basis points to  +470bps over bmk*
5-yr T-bond   HU5YT=RR    0 basis points to  +425bps over bmk*
10-yr T-bond   HU10YT=RR +40 basis points to  +391bps over bmk*
*Benchmark is German bond equivalent.
All data taken from Reuters at 1146 CET.
Currency percent change calculated from the daily domestic 
close at 1600 GMT.

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  (Reporting by Reuters bureaus, writing by Jason Hovet, editing
by Stephen Nisbet, John Stonestreet)