Vladimír Urbánek (Kurzy.cz)
Markets  |  May 31, 2012 16:40:04

CR - Summary 5.31 - Lightweight growth ČEZ, KB and TO2 insufficient to significant decrease Erste and NWR

The PSE with a relatively significant increase liquidity weakened last day of May.

The general mood was abroad until early afternoon rather optimistic. The main reason for that speculation had on the Irish budget YES Stability Pact as well as reports of a decline in inflation in the euro area. The absence of inflationary pressures opens up more space for possible stimulate the moribund European economy, or at least space for reflection or speculation in this direction. Later in the afternoon came the cold shower in the form of data from the U.S.. 1Q GDP revision resulted in a reduction initially estimated growth and later published data on the evolution of new jobs in the private sector fell short of market expectations. These reports sent stock markets around the world into the red.Is there a chance that the market will ultimately interpret the data as U.S. growth area for possible stimulation, which in the end could turn market sentiment, but it remains to be seen. Market perception of similar reports in this regard, to say the least, erratic.

On the home front against himself a slight influence growth threesome ČEZ, KB and TO2 and significant correction in the rest of the market led by Erste and NWR. After some time, the domestic price-fixing appeared interesting messages in the form of the notice CEZ considering the sale of two large power stations. Transaction, if it occurs, is estimated in the order of a few tens of billions of crowns. The actual flow of such resources should be a positive motive for the shares of the company, but outside the actual inflows message can be perceived as a signal confirming the deteriorating position now completely dominant electricity provider.More distant past vision "CEZ super" could be negatively perceived.
Interesting news related also HC2, when the Spanish parent Telefónica announced the possible sale of German divisions O2 Germany. The parent company needs money and for our daughter can mean increased pressure to maintain high dividends or any possibility of selling the model of the German division.
Significantly corrected again today NWR, which are riding on a wave of negative drop in oil prices on world markets. Shares also fell markedly Orca and CETV.

Daily comments:
Joint Stock breakfast 05.31 - Developments in Europe, flooding ...

Conclusion Exchange 31/05/2012 16:28 SPAD detail On
Name Course Change Volume Yesterday
AAA 18.00    -1.10% 0.05 million 18.20
CETV 121.75    -2.21% 7.85 million 124.50
ČEZ 740.10    0.28% 488.21 million 738.00
ERSTE BANK GROUP 362.70    -1.95% 63.45 million 369.90
FORTUNA 95.25    0.56% 0.38 million 94.72
KITD 71.75    -0.14% 0.21 million 71.85
COMMERCIAL BANK 3162.00    0.29% 270.32 million 3153.00
NWR 92.50    -4.64% 29.50 million 97.00
ORCO 70.51   -4.33% 0.32 million 73.70
PEGAS NONWOVENS 418.60    -0.17% 4.60 million 419.30
PHILIP MORRIS CR 11,286.00    -0.56% 4.53 million 11,350.00
TELEFÓNICA CR 381.80    0.47% 67.30 million 380.00
UNIPETROL 169.50    -0.29% 10.51 million 170.00
VIG 720.30    -2.66% 1.46 million 740.00
TOTAL   948.72 million

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ČR - souhrn 31.5. - lehký růst ČEZ, KB a TO2 nestačil na výraznější pokles Erste a NWR

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