Czech Republic - Factors To Watch on May 21

                                
 PRAGUE, May 21 (Reuters) - Here are news stories, press
reports and events to watch which may affect Czech financial
markets on Thursday:
                                
 ALL TIMES GMT (Czech Republic: GMT + 2 hours)

======================== ECONOMIC DATA ========================
                                
 Real-time economic data releases....................<ECONCZ>
                                
 Previous stories on Czech data.............[CZ-RTRS-LEN-ECI]
                                
 Overview of economic data and forecasts..........<CZ/ECON15>
                                
 Updates on CEE currencies.............................[CEE/]
==========================EVENTS================================
                                
 PRAGUE - 39-week T-bill auction.
                                
 Related news: [RTRS-LEN-CZ-DBT]

                                
 PRAGUE - Czech central bank governing board to hold a
regular weekly meeting. It is not scheduled to discuss monetary
policy issues.
                                
 Related news: [RTRS-LEN-CZ-CEN]
                                
 
=========================TOP NEWS===============================
                                
 ORCO: Orco Property Group's <ORCOsp.PR> <ORCO.PA> first
quarter net loss nearly quadrupled from a year ago as an
economic slowdown in central Europe hits its key markets.
                                
 Story: [ID:nL0963512] Related news: [RTRS-LEN-CZ-REA]
                                
 
                                
 DEMAND THINNER AT BOND AUCTION: The Czech Republic sold less
of its new 15-year government bonds than planned on Wednesday,
showing dampened demand for longer-dated issues.
                                
 Story: [ID:nLK591660] Related news: [RTRS-LEN-CZ-DBT]
                                
 
                                
 SECOND ROUND OF BOND AUCTION: The Czech Finance Ministry
sold 663 million crowns ($33.90 million) worth of 15-year
government bonds <CZ1002547=> at an average yield of 5.798
percent in the second, non-competitive round of an auction on
Wednesday.
                                
 Story: [ID:nPRA002572] Related news: [RTRS-LEN-CZ-DBT]
                                
 
                                
 Q1 WAS WORST FOR ECON: The Czech economy has likely seen its
worst performance in the first quarter of this year and the
crown exchange rate is stabilising, central bank's Vice-Governor
Mojmir Hampl said on Wednesday.
                                
 Story: [ID:nLK939745] Related news: [RTRS-LEN-CZ-MCE]
                                
 
                                
 LEFT GAINS: The main Czech leftist party, the Social
Democrats (CSSD), extended its lead over the rightist Civic
Democrats (ODS) five months ahead of a general election, surveys
showed.
                                
  Story: [ID:nLK251882] Related news: [RTRS-LEN-CZ-POL]
                                
 
 ---------------------- MARKET SNAPSHOT ------------------------
 Index/Crown Currency  Latest    Prev    Pct change   Pct change
                                
                              close   on day       in 2008
 Czech Equities  <.PX>   000.0    915.0   +0.00           n/a
 vs Euro     <EURCZK=>  26.670   26.670   +0.00         -0.64
 vs Dollar      <CZK=>  19.592   19.561   +0.12         -7.20
 U.S. Equities  <.DJI>  08,475   08,504   -0.34        -36.11
 Pvs close or current levels vs prior domestic close at 1500
 ==========================PRESS DIGEST=========================
                                
 
                                
 MORTGAGES: The volume of residential mortgages fell by 31.2
percent year on year in April to 7.55 billion crowns ($390.8
million), a disappointing figure after only a small drop in
March.
                                
 Hospodarske Noviny, page 16
  
                                
 UNIPETROL: Unipetrol CEO Krzysztof Urbanowicz said he
expected this and the next quarter to continue to be difficult
for the refiner. The downstream oil processor posted a loss in
the first quarter.
                                
 Hospodarske Noviny, page 23

                                
 Reuters has not verified the media reports, nor does it
vouch for their accuracy.
                                
 
 For Instant Views of key economic data click on    [CZ/INSTANT]
 For summary of economic data and forecasts          <CZ/ECON01>
 For diary of forthcoming Czech events                [CZ/DIARY]
 For calendar of east European economic indicators  [CONV/DIARY]
 TOP NEWS -- Emerging markets                         [TOP/EMRG]
 TOP NEWS -- Convergence watch                        [TOP/EAST]

 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:
 Warsaw WIG20 <.WIG20>  Budapest BUX <.BUX>  Prague PX <.PX>

                                
 News editor of the day: Jan Lopatka on +420 224 190 474;
fax: +420 224 229 935
                                
 E-mail: prague.newsroom@reuters.com
  (Compiled by Jana Mlcochova)