May 5, 2020 / 6:49 AM / a month ago

Czech Republic - Factors To Watch on May 5

    PRAGUE, May 5 (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 + 2 hours)        
=========================ECONOMIC DATA==========================
    Real-time economic data releases.................           
    Previous stories on Czech data.............                 
  **For a schedule of corporate and economic events: 
    MONETA Money Bank cuts 2020 outlook as provisioning starts
    Czech Philip Morris Proposes Czk 1,560/Share Dividend From
2019 Earnings
    CORONAVIRUS CASES: The Czech Republic had 7,819 confirmed
cases of coronavirus infection by Tuesday morning, with 38 new
infections on Monday. So far 3,807 people have recovered from
the Covid-19 illness and 252 people have died.
    MEASURES: The Czech Republic will lift a ban on
international bus and train travel from May 11 as the government
on Monday rolled back more of its measures to combat the
coronavirus outbreak and added aid to hard-hit companies.
    CENTRAL BANK: The Czech National Bank will likely cut
interest rates again on May 7, by 50 basis points, as the
country braces for the economic impact of the coronavirus
pandemic, a Reuters poll showed on Monday.
    SKODA: Czech carmaker Skoda Auto, part of the Volkswagen
Group            , reported a 25% drop in first-quarter
operating profit on Monday, but said the biggest hit from the
coronavirus outbreak would come in the second quarter.
    BUZZ-Royal Mail: Tops midcap after Czech billionaire
Křetínský raises stake 
    SLOVAKIA: Slovakia will accelerate the reopening of its
economy from its coronavirus shutdown as the rate of new
infections has slowed, Prime Minister Igor Matovic said on
    BUDGET: The Czech central state budget deficit trebled to
93.8 billion crowns ($3.78 billion) in the first four months of
the year compared to 2019 due to the rising spending and the
costs of the coronavirus outbreak, Finance Ministry data showed
on Monday.
    JOBS: The Czech unemployment rate rose to 3.4% of the
workforce in April, the Labour Ministry said on Monday.
    CEE PMI: Sentiment in central European manufacturing fell in
April as coronavirus-related lockdowns put the brakes on factory
activity, leading to steep declines in output and new orders.
    PMI: Czech factory activity fell in April to the lowest
level since March 2009, the Markit Purchasing Managers' Index
(PMI) showed on Monday.
    UBER: Uber          said on Monday it was closing down its
Uber Eats operations in eight markets because they did not offer
a clear route to becoming the number one or number two online
food delivery operator, its stated aim for its Eats business.
    CEE MARKETS: Central European stock markets fell on Monday
as global markets avoided risk after U.S.-China tensions flared
up, while fresh PMI data in the region showed a dismal picture
about the economic damage from the novel coronavirus pandemic.
    EUROPE POWER: European spot wholesale power on Monday fell
due to more availability of renewable and French nuclear supply
while forwards contracts eased amid mixed trends in the fuels
and carbon markets.
========================= PRESS DIGEST =========================
    VACLAV HAVEL AIRPORT: Eurowings resumed service from Prague
to Duesseldorf, KLM reopened flights to Amsterdam.
    Hospodarske Noviny, page 14
    SMARTWINGS/CSA: The state should help Smartwings/CSA
carrier, although the airlines company is in private hands,
Industry Minister Karel Havlicek said. In an optimistic
scenario, 60% of regular flights will reopen in autumn. A
pessimistic outlook sees just 40% revival, he said.
    Lidove Noviny, page 12
    HOTELS: Companies active in tourism should get special
loans, because banks hesitate to lend to them because of the
risk involved, Tomas Prouza of the SOCR retailers' association
said. Hotels and restaurants need to be saved, he said.
    Hospodarske Noviny, page 3
    SKODA AUTO: Suppliers of Skoda Auto are now working in a
regime of "just-in-time" deliveries, and they are operating
well, Skoda board member Michael Oeljeklaus said.
    The carmaker is cannot run at 100% of its capacity at the
moment, partly due to the weaker supply of parts and partly due
to limits on workforce, especially at the border with Poland, as
Polish workers are not fully available, he said.
    Mlada Fronta Dnes, page 12
    (Reuters has not verified the stories, nor does it vouch for
their accuracy.)
    Prague Newsroom: +420 234 721 617

 (Reporting by Prague Newsroom)
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