Vladimír Urbánek (Kurzy.cz)
Markets  |  March 08, 2013 17:15:38

Czech Republic - a summary 3.8 - PSE ends next week growth, managed to Fortuna, Erste and HC2


Prague bourse ended 10th week to further growth. Overall, the PX index during this week improved by 2.5%, mainly due to positive foreign developments.

Today European stock markets continued to rise in anticipation of a U.S. government report on the development of unemployment . Real data was in the finals even significantly better than market expectations, which contributed to an even greater increase in the European markets.
Positively on a global scale, there were also improved China's export growth and revision of GDP of Japan in 4Q12 showing a slight increase in the local economy compared to pre-notified decline.
Positively to European markets has also increasing confidence in European corporate bonds, which is the highest in the last 20 months.

On the domestic scene, when only the average liquidity of shares fared particularly Fortuny, Erste and TO2. Into the red today got no "catchment" title.
Fortuny shares continue to rise in response to yesterday's results that beat market expectations and brought a hint of possible extraordinary dividends. In the calculations, the talk that the bookmaker would pay to 12.4 CZK gross per share, which would correspond to a dividend yield of around 13%, which would overcome the reigning until dividend yields and TO2 PMCR.
Erste grew despite reports of growth risks for Austrian banks caused by high engagement in Central and Eastern Europe.The economic situation in these regions, but for several years rather oppressive and unexpired could reduce the profitability of Austrian banks. In connection with Erste appeared also reports layoffs in the Czech Savings Bank, the largest subsidiary of the Austrian mother. Hard to say whether it is a positive or rather negative message. The actual layoffs will reduce costs of the bank, on the other hand, the very fact that it occurs does not cast a good light and can itself raises speculation "unspecified problems" homemade daughter.
In response to price-fixing trio reports growth stocks TO2 connected especially with the announcement of the cancellation of the ongoing auction of frequencies for 4G networks due to the very high price, which went against the original intentions of the regulatory authority. CTO should adjust criteria auction and later write out a new auction.Fear of too high frequencies while prices offered are among one of the most risk factors for the development of economic operators, including publicly traded TO2 . Among other things, for this reason the price dropped the title from last year's levels around 400 CZK to current levels slightly above 300 CZK. Shares TO2 respond to the report of growth towards 330 CZK . Editing criteria and call new auction actually means at least delay entry of a new operator in the mobile market, and of course more significant postponement of investment, which in conjunction with the new network operators had to spend. Step CTO should be positively should be, because they indicate that selling prices frequencies remain within a "reasonable" level and the situation will not be repeated from the sale of frequencies for 3G network when exorbitant sums effectively prevented effective deployment of new services andonly significant economic burden on operators.

Of note today is also the decline of shares CETV, Tatra and KIT digital.

Daily comments on what is happening in the markets:
Brief situations Wall Street: Nice opening 08.03
12.h - European markets are expected to grow in the morning.

Exchange Conclusion 8 March 2013 16:30Detail Conclusion On
Name Course Change Volume Yesterday
AAA Auto 23.00    0.00% 0.99 million 23.00
CME CME 97.50    0.52% 2.67 million 97.00
ČEZ 621.00    0.45% 215.81 million 618.20
ERSTE BANK GROUP 648.80    1.69% 108.66 million 638.00
FORTUNA 96.00    3.23% 11.18 million 93.00
COMMERCIAL BANK 4130.00    0.12% 130.54 million 4125.00
NWR 75.50    0.00% 21.56 million 75.50
ORCO 60.80    1.33% 2.52 million 60.00
PEGAS NONWOVENS 531.50    0.47% 0.90 million 529.00
PHILIP MORRIS CR 11,500.00    0.00% 15.87 million 11,500.00
TELEFÓNICA O2 328.90    1.36% 110.95 million 324.50
UNIPETROL 171.50    0.88% 2.26 million 170.00
VIG 1015.00    1.84% 7.00 million 996.70
TOTAL   630.90 million

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ČR - souhrn 8.3. - BCPP končí týden dalším růstem, dařilo se Fortuně, Erste a TO2

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