PRAGUE, June 30 (Reuters) - Here are news stories, press reports and events to watch which may affect Czech financial markets on Wednesday.
ALL TIMES GMT (Czech Republic: GMT + 2 hours) =========================ECONOMIC DATA=========================
May money supply data at 0800 GMT.
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CABINET POSTS AGREED: Czech parties negotiating the formation of a centre-right government agreed on the division of key cabinet posts on Wednesday, including the appointment of austerity advocate Miroslav Kalousek as finance minister.
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] Related news: [ ] * FACTBOX on proposed finance minister: [ ]==========================TOP NEWS============================
NEW C.BANKER SAYS POLICY WELL SET: The Czech central bank's monetary policy is well set and rates at the current level are not hurting the economy, newly appointed board member Kamil Janacek said on Tuesday.
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CEE MARKETS: Investor concerns over the speed of recovery in emerging Europe helped knock the Romanian leu to a record low against the euro and the Hungarian forint to an all-time low against the Swiss franc on Tuesday.
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CSOB IPO: Belgian financial group KBC <KBC.BR> said it still intended to float a minority stake in its Czech unit CSOB, dismissing a Czech newspaper report that it might be scrapped.
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BUDGET CUTS: Czech parties building a new cabinet have agreed on 56 billion crowns ($2.68 billion) in savings for 2011, moving close to their target of cutting the budget gap below 4.8 percent of gross domestic product, party officials said on Tuesday.
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CEZ APPROVES DIVIDEND: Czech power group CEZ <
> shareholders approved a 53 crown per share dividend out of 2009 profits, higher than the previous 50 crown per share payout, at a general meeting on Tueday.Story: [
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CEZ PRE-SELLS 2011, 2012 CAPACITY: CEZ <
> has pre-sold nearly 90 percent of its 2011 baseload generation capacity for an average 52.2 euros per megawatt hour and about a third for 2012, the Czech utility's Chief Financial Officer Martin Novak said on Tuesday.Story: [
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CEZ WINS CZECH RAILWAYS TENDER: The state-run Czech railways has picked power group CEZ <
> for its electricity supplies over the next year and half, a railways spokesman said on Monday.Story: [
] Related news: [ ]---------------------- MARKET SNAPSHOT ------------------------ Index/Crown Currency Latest Prev Pct change Pct change
close on day in 2010 Czech Equities <
> -- 1113.7 -1.81 -0.32 vs Euro <EURCZK=> 25.715 25.737 0.09 2.29 vs Dollar <CZK=> 21.072 21.138 0.31 -14.67 U.S. Equities < > 9870.3 10138.52 -2.65 -5.35 Pvs close or current levels vs prior domestic close at 1500 GMT ==========================PRESS DIGEST==========================BUDGET TALKS CLOSER: The incoming government coalition is close to agreeing a 2011 state budget deficit of 136 billion crowns ($6.44 billion), or 3.6 percent of GDP, down from 163 billion in 2009. The paper said this would mean a public sector deficit of 4 percent of GDP, a level party officials have earlier flagged.
Reaching this target involves cutting spending by around 55 billion crowns and raising revenue by 20 billion, including by raising the low end of VAT.
Lidove Noviny, page 1
PAROUBEK FOR BUDGET GROUP: The opposition Social Democrats nominated their former chairman Jiri Paroubek, who resigned following a poor showing in a May election, to a position on the lower house's budget committee.
Mlada Fronta Dnes, page A2
Reuters has not verified the media reports, nor does it vouch for their accuracy.
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