Bloomberg News

Czech Stocks: CEZ, Erste Group Bank, Orco Property Group Move

October 10, 2011

Oct. 10 (Bloomberg) -- The Czech Republic’s PX stock index fell 1.8 percent to 932.9 at its 4:28 p.m. close in Prague, snapping a three-day advance.

The following were among the most active equities on the Prague Stock Exchange today. Stock symbols follow company names.

CEZ AS (CEZ CP), the country’s biggest electricity company, rose 1.6 percent to 712 koruna, its highest close this month. Power for next-year delivery in Germany, where CEZ exports part of its output, climbed to 56.1 euros per megawatt-hour, also heading for this month’s highest.

Erste Group Bank AG (RBAG CP) declined 13 percent to 444 koruna, after earlier slumping as much as 18 percent, the most in three years. The Austrian lender said it won’t pay a dividend this year as it expects to post a loss after writedowns on its Hungarian and Romanian units.

Orco Property Group SA (ORCO CP) increased 7.5 percent, the most in almost two months, to 94.5 koruna. The Czech developer said it plans to sell its Sky Office tower in Dusseldorf this year and confirmed its full-year revenue forecast.

--Editors: Peter Branton, Alex Nicholson

To contact the reporter on this story: Krystof Chamonikolas in Prague at

To contact the editor responsible for this story: Gavin Serkin at

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