CEZ AS (CEZ) rose for a second day after the biggest Czech utility said it agreed to sell one coal-fired power plant to avoid an anti-monopoly fine and as the price of electricity increased.
The shares climbed 1 percent to 739.5 koruna by the close in Prague, paring losses so far this quarter to 7.4 percent. The PX (PX) index of 14 stocks, in which CEZ has largest weighting at 20 percent, rose 0.7 percent to 884.1 today.
CEZ pledged to sell one power plant to settle a legal case filed in 2009 by the European Commission, which was probing whether the generator was blocking competitors’ access to the power market, the company said in a statement today. Electricity for next-year delivery in Germany, where CEZ exports part of its output, rose 0.7 percent to 48.85 euros per megawatt-hour.
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