Cyrrus (Cyrrus)
Markets  |  February 21, 2013 16:58:19

Correction continues, ČEZ is attractive, but do not rush to buy


iPoint.cz Today's trading day continued yesterday, when markets for a long time began to revise their growth rates (indices are near their highs). There are several reasons. In Europe, the Italian elections approaching and therefore increasing nervousness about the future development of this, recently, fragile economy. From yesterday to today, then added the news from China - specifically, concerns about a possible bubble in the real estate market in China, which could jeopardize nearly double-digit growth in the local economy. And last but not least, yesterday fell significantly after prolonged U.S. markets. There was the main reason "Fed Minutes", the output of the Fed meeting.This showed that no not all are members of the Fed's further easing of the economy.

China closed around -3%. U.S. markets then about -1.2%. In my opinion, it is this combination of reports could cause long dreaded correction on an otherwise strongly growing market. I recommend profitable long positions to sell or provide stop-loss. Speculative investors would not worry recommend speculate on the markets decline.

On the Prague market today most inflected shares of ČEZ, which is the last year under pressure along with all utilities in Europe. CEZ Although there is no closing nuclear power plants as in the case, for example E-one or RWE. However, CEZ has its problems - some time ago it was Albania, now it's Bulgaria. Although this is largely a political struggle, but retail has "shivering hands" and sold.Immediately after the opening of CEZ fell below 600 CZK per share, one wave, then got up to a whopping 545 CZK per share to from this level within two minutes he returned to 600 CZK per share. The reason? The most likely reason is weak liquidity on the Prague market and a large number of stop-loss instructions just below 600 CZK per share. ČEZ currently trades around 595 CZK per piece. It's an attractive price to buy? Undoubtedly yes, at least in the long term, but short term, there are still considerable risks. 28th Second 2013, the company reported its financial results. The risk is further development in Bulgaria and of course the price of electricity and emission allowances. I would suggest buying at prices reaching 550 to 560 CZK per share.



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