PRAGUE, June 10 (Reuters) - Here are news stories, press reports and events to watch which may affect Czech financial markets on Thursday.
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PRAGUE - Power firm CEZ <
> to hold a news conference on its foreign subsidiares at 0800 GMT.Related news: [
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PRAGUE - Czech central bank governing board to hold a regular weekly meeting. It is not scheduled to discuss monetary policy issues.
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PRAGUE - 52-week T-bill auction.
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] ==========================TOP NEWS============================PENSION REFORM BLUEPRINT: An expert panel proposed a radical overhaul of the Czech pension system on Wednesday, handing a ready-made plan to politicians who will need to give pension reform priority.
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3-YEAR BOND SALE DOUBLES OFFER: The Czech Finance Ministry sold almost double the amount it had planned in a 3-year bond auction on Wednesday, though growing issuance to meet record borrowing needs in 2010 drove yields higher.
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CEE MARKETS: The forint rose on Wednesday with investors mostly cheered by Hungary's plan to curb swelling finances, but central Europe's budget woes remained in focus, with Bulgaria's risk premiums spiking.
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CEE POWER: Czech day-ahead contracts fell more than 5 percent on Wednesday due to warmer weather and an expected rise in wind generation in the region while prices along the curve rose as gas and oil firmed, traders said.
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Q1 GDP REVISED UP: Exports and a slight pickup in domestic demand fuelled growth in Hungary and the Czech Republic in the first quarter, though analysts said fiscal tightening in the euro zone will slow the pace of recovery later this year.
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] Related news: [ ] * For INSTANT VIEW of Czech GDP and CPI [ ] * For central bank reaction to data [ ] ---------------------- MARKET SNAPSHOT ------------------------ Index/Crown Currency Latest Prev Pct change Pct changeclose on day in 2010 Czech Equities <
> -- 1107.3 0.38 -0.9 vs Euro <EURCZK=> 25.342 25.92 2.23 3.71 vs Dollar <CZK=> 21.442 21.486 0.2 -16.68 U.S. Equities < > 9899.25 9939.98 -0.41 -5.07 Pvs close or current levels vs prior domestic close at 1500 GMT ==========================PRESS DIGEST==========================TUMA TO HEAD TO EU POST: Outgoing central bank chief Zdenek Tuma will take up a job in the macroeconomic supervision section of the EU in Frankfurt, two sources confirmed for the paper.
E15, page 1
CORPORATE TAX TO STAY UNCHANGED: Junior member Public Affairs backed down from a proposal to raise the corporate tax in talks to form a majority centre-right coalition, following the end-May election.
Hospodarske Noviny, page1
BUDGET CUT MIX: Outgoing Finance Minister Eduard Janota said the optimal mix in making an expected 60 billion crowns ($3.19 billion) reduction in the budget this year would be two-thirds spending cuts and one-third higher taxes.
Pravo, page 3
Reuters has not verified the media reports, nor does it vouch for their accuracy.
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