The Czech Republic’s benchmark stock index slumped to an 18-month low, led by Erste Group Bank AG, after Austria’s largest lender lowered its earnings forecast and said it plans to sell shares.
Telefonica Czech Republic AS, the country’s largest phone operator, posted a 13 percent decline in second-quarter profit as clients spent less on calls.
CEZ AS snapped two days of gains after Chief Executive Officer Martin Roman said he was leaving his post at the largest Czech power utility.
CEZ AS defied a global stock selloff as a planned addition of the biggest Czech power utility to a developed-markets benchmark boosted buying.
Central European Media Enterprises Ltd., known as CME, may boost revenue by about $5 million a year should lawmakers approve a plan to restrict advertising on Czech public television, according to Atlantik FT.
Fortuna Entertainment Group NV gained for a seventh day to its highest price on record after the Czech bookmaker offered to buy assets of bankrupt competitor Sazka AS.
CEZ AS fell for a fourth day after the Bulgarian government said it may revoke the Czech utility’s power-distribution license in the southeast European country.
ECM Real Estate Investments AG fell to a record low after the Czech developer that is seeking to restructure debt said its loss widened in the third quarter.
New World Resources NV , the largest Czech supplier of coal to steelmakers, declined the most in four days after Evraz Vitkovice Steel AS canceled pig iron orders for July from NWR’s customer.
"Czech stocks have lost their appeal for investors."
- Milan Vanicek on Jun 24, 2013