CEZ Jumps to Highest in More Than 6 Months on Electricity Prices

CEZ AS (CEZ), the biggest power utility in the Czech Republic, extended this week’s rally to the highest level in more than six months as electricity prices rose.

The stock advanced as much as 1.5 percent to its strongest intraday price since Aug. 8 and traded up 1.2 percent at 828 koruna by 10:53 a.m. in Prague.

Power for next-year delivery in Germany, where CEZ exports part of its output, rose 1.5 percent this week to 52.45 euros per megawatt-hour. Global stocks and commodities rallied after U.S. data showed improvements in the world’s largest economy and on speculation Greece will secure a bailout.

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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