PRAGUE, May 18 (Reuters) - Here are news stories, press
reports and events to watch which may affect Czech financial
markets on Monday:
ALL TIMES GMT (Czech Republic: GMT + 2 hours)
======================== ECONOMIC DATA ========================
Real-time economic data releases....................<ECONCZ>
Previous stories on Czech data.............[]
Overview of economic data and forecasts..........<CZ/ECON15>
Updates on CEE currencies.............................[]
============================EVENTS==============================
PRAGUE - The Czech cabinet to hold a session. News
conference due to at 1100 GMT.
Related news: []
======================MORNING NEWS=========================
NWR Q1 RESULTS: Czech mining group New World Resources (NWR)
<NWRSsp.PR> <NWR.L> showed a surprise net loss of 2.14 million
euros in the first quarter of 2009 versus 117.8 million net
profit for the same period last year, the company said.
Story: [] Related news: []
ORCO: Developer Orco Property Group <ORCO.PA> <>
will release its final audited consolidated accounts for year
2008 on June 10, 2009 after the market close.
Related news: []
=========================TOP NEWS===============================
TRADE UNIONS PROTEST: About 20,000 Czech and foreign trade
unionists protested in Prague on Saturday against what they say
is the threatened erosion of workers' rights by governments and
businesses tackling the global economic crisis.
Story: [] Related news: []
ANTI-CRISIS PACKAGE: The lower house of the Czech parliament
approved a multi-billion package of measures aimed to boost the
economy, backed by the main political parties as the country's
once-fast-growing economy plummets.
Story: [] Related news: []
E.EUROPE ECONOMIES PLUMMETING: Eastern Europe's economies
shrank faster than expected in the first quarter after imploding
demand in key export markets hit industries, but policymakers
saw signs of nearing the bottom despite depressing data from
Germany, the region's key export market.
Story: [] Related news: []
NWR ERNINGS POLL: Net profit at the Czech mining firm New
World Resources (NWR) <NWRSsp.PR> is seen falling by 88 percent
in the first quarter, as the economic downturn squeezed coal
prices and consumption, a Reuters poll showed.
Story: [] Related news: []
CEE CURRENCIES FALL: Central European currencies held steady
against the euro on Friday in the face of grim GDP data
throughout the region, with a slight calm returning to markets
after a week of losses.
Story: [] Related news: []
TUMA SAYS EURO NO PANACAEA: Czech central bank Governor
Zdenek Tuma said on Friday that euro adoption was no panacea and
he could imagine the Czech Republic maintaining independent
monetary policy for some time.
Story: [] Related news: []
ZAMRAZILOVA SEES NO MORE EASING: There is no reason for
further cuts in Czech interest rates, central bank board member
Eva Zamrazilova said.
Story: [] Related news: []
PM ON POOR GDP DATA: A record 3.4 percent drop in Czech
gross domestic product in the first quarter was not surprising,
but sends a bad signal about the state of the economy, Prime
Minister Jan Fischer said.
Story: [] Related news: []
DROP MAY BE BOTTOMING OUT: The Czech economy may be
bottoming out after a drop in the past months, central bank
Vice-Governor Miroslav Singer
Story: [] Related news: []
CURRENT ACCOUNT: The Czech current account showed a 5.68
billion crown ($285.6 million) surplus in March, slightly higher
than the market forecast of 5.1 billion, data showed
Story: [] Related news: []
CZECH ECONOMY SHRINKS: The Czech economy shrunk by 3.4
percent year-on-year in the first quarter, the worst figure on
record and a much worse result than expected as exports suffered
from a collapse of west European demand.
Story: [] Related news: []
C.BANK MINUTES: Following is the full text of the minutes
from the Czech central bank (CNB) governing board's May 7
monetary policy meeting, released on Friday.
Story: [] Related news: []
APRIL PPI: The Czech Statistical Bureau released the
following April producer price data (PPI).
Story: [] Related news: []
---------------------- MARKET SNAPSHOT ------------------------
Index/Crown Currency Latest Prev Pct change Pct change
close on day in 2008
Czech Equities <> 000.0 901.2 +0.00 -100.00
vs Euro <EURCZK=> 26.985 26.985 +0.00 -1.80
vs Dollar <CZK=> 19.895 19.905 +0.07 -8.90
U.S. Equities <> 08,269 08,331 -0.75 -37.66
Pvs close or current levels vs prior domestic close at 1500
==========================PRESS DIGEST=========================
BANKS: Czech banks, majority owned by western banks, have
lent their parent companies tens of millions of crowns. Komercni
Banka <> has lent its parent Societe General <SOGN.PA>
a total of 46 billion crowns ($2.31 billion), almost a double of
what it was owned by its parent in 2007, before the crisis hit.
Austria's Erste <ERST.VI> had borrowed a total of 27 billion
crowns at the end of 2008 from its Czech subsidiary Ceska
Sporitelna, up from 5 billion a year earlier.
E15, page 1
ENERGY EXCHANGE: The leftist Social Democrats, who toppled
the centre-right wing cabinet of Mirek Topolanek in March, say
they want to reduce electricity prices by up to 30 percent and a
way how to achieve that would be to cancel the Prague Energy
Exchange.
Lidove Noviny, page 1
CEZ: Power group CEZ <> may shut its hard-coal mine
power station in Detmarovice for four months as it can buy power
on the energy exchange for less than it costs to produce it in
Detmarovice. Miner NWR <NWRS.L> <NWRSsp.PR> is the main supplier
of coal for Detmarovice.
Mlada Fronta Dnes, Saturday, page 8
Reuters has not verified the media reports, nor does it
vouch for their accuracy.
For Instant Views of key economic data click on []
For summary of economic data and forecasts <CZ/ECON01>
For diary of forthcoming Czech events []
For calendar of east European economic indicators []
TOP NEWS -- Emerging markets []
TOP NEWS -- Convergence watch []
For an economic indicator diary for the euro zone, the United
States and other Group of Seven countries see <G7TODAY>
For real-time stock market index quotes click in brackets:
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News editor of the day: Jan Lopatka on +420 224 190 474;
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E-mail: prague.newsroom@reuters.com
(Compiled by Jana Mlcochova)
