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Czech Republic - Factors To Watch on Jan 29
January 29, 2013 / 7:37 AM / 5 years ago

Czech Republic - Factors To Watch on Jan 29

PRAGUE, Jan 29 (Reuters) - Here are news stories, press
reports and events to watch which may affect Czech financial
markets on Tuesday. 
    ALL TIMES GMT (Czech Republic: GMT + 1 hours) 
        
==========================ECONOMIC DATA========================.
    Real-time economic data releases................... 
    Previous stories on Czech data............ 
    Overview of economic data and forecasts......... 
    Updates on CEE currencies...........................  
                                
===========================TOP NEWS============================ 
                                          
    TOMSIK ON THE CROWN: The Czech central bank is ready to sell
crowns on the market if it needs to loosen policy further, but
remains committed to targetting inflation rather than the
exchange rate, Vice Governor Vladimir Tomsik said. 
    Story: Related news:  

    CEE MARKETS: The Polish zloty led emerging European
currencies lower on Monday, with the Hungarian forint hitting
its lowest in eight months as investors sold on expectations of
more rate cuts and economic weakness. 
    Story: Related news: 

    CEE POWER:  Central European day ahead power was mixed on
Monday with Czech and Slovak prices plunging on more renewables
and warmer weather, and Hungarian prompt climbing due to less
hydro supply and limited cross border capacity, traders said.  
    Story: Related news: 
 ---------------------- MARKET SNAPSHOT ------------------------
 Index/Crown Currency    Latest     Prev   Pct change Pct change
                                    close    on day     in 2012
 vs Euro        25.665     25.702     0.14      -2.46
 vs Dollar         19.103     19.082    -0.11      -0.62
 Czech Equities  1,012.57   1,012.57     -1.14      -2.52
 U.S. Equities 13,881.93  13,895.98     -0.1        5.94
 Pvs close or current levels vs prior domestic close at 1600 GMT

========================PRESS DIGEST==========================
    POTENTIAL CENTRAL BANK BOARD MEMBER NOMINEE: Economist Jiri
Rusnok, a former minister in a Social Democrats-led government
between 1998-2002, was mentioned by President-elect Milos Zeman
as a possible candidate for the Czech central bank governing
board.
    Rusnok said he would consider an offer to join the board if
he got one although he was not spending time thinking about it
right now as it may only happen far in the future.
    He said the centre-right government of Prime Minister Petr
Necas should not have only emphasized budget cuts. It should
have also taken measures to improve the mood and expectations of
people. Rusnok is a member of NERV, an advisory body to Necas'
government. He stressed NERV did not have any executive power.
    He said the central bank "works very well". The only
reservation he had was that the board members, all appointed by
euro-sceptic president Klaus, were not diplomatic enough when it
comes to various European initiatives.  
    Hospodarske Noviny,page 3
      
    TEMELIN TENDER GOES ON: CEZ  Chief
Executive Martin Novak said the tender to enlarge its nuclear
power station continues according to plan, regardless the
presently low power prices.
    After the company picks a winner -  Russian firm
Atomstroyexport and Japanese group Toshiba's U.S. unit
Westinghouse are the remaining bidders in the multi-billion
dollar tender after Areva was excluded - there will
be a four-year period during which a detailed design will be
created and all permissions received, Novak said. 
    The project can be stopped any time during that period.
    Novak said CEZ was negotiating to receive government
guarantees for the price of power produced in the new blocks.
    For details see: 
    Novak said that according to CEZ calculations the government
costs for the Temelin guarantees would be only a fragment of
what it pays to support renewable resources. 
    Pravo, page 15
    
    NOVA ADD SALES TUMBLE: Advertising sales at CME's 
Czech unit Nova fell by a half in the first two weeks of 2013
due to hike in prices by the commercial TV station. Competing
Prima TV add sales rose by 25 percent in the period.
    Hospodarske Noviny, page 1

    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     
 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         
 
 For real-time stock market index quotes click in brackets: 
 Warsaw WIG20  Budapest BUX  Prague PX 
 
    News editor of the day: Jan Lopatka on +420 224 190 474
    E-mail: prague.newsroom@thomsonreuters.com
($1 = 18.9881 Czech crowns)

 (Reporting by Prague Newsroom)

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