Bloomberg News

Unipetrol Climbs to Five-Week High as Czech GDP Tops Estimate

March 09, 2012

Unipetrol AS (UNIP), the biggest Czech oil refiner, rose to a five-week high as a reports showed the country’s economy contracted less than initially estimated, signalling higher demand for fuel.

The stock advanced as much as 1.5 percent to 175 koruna, its highest intraday price since Feb. 3, before trading up 0.6 percent at 173.5 koruna by 12:16 p.m. in Prague. The PX (PX) gauge of 14 companies rose 0.1 percent.

Gross domestic product shrank 0.1 percent in the fourth quarter from the previous three months, the Czech Statistics Office said today, revising its earlier estimate for a 0.3 percent drop.

To contact the reporter on this story: Krystof Chamonikolas in Prague at kchamonikola@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net


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