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Czech Stocks: Central European Media, Kit Digital Move in Prague

The Czech PX (PX) stock index dropped for a second day, sliding 0.9 percent to 924.9 at the close in Prague.

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

Central European Media Enterprises Ltd. (CETV) jumped 5.7 percent to 163.8 koruna, its highest in more than two months. Moody’s Investors Service said yesterday it may upgrade the broadcaster’s B3 corporate family rating after a planned debt reduction announced earlier this week.

CEZ AS (CEZ) , the biggest Czech power utility, retreated 1.5 percent to 738.9 koruna, its lowest in almost five months. Electricity for next-year delivery in Germany, where CEZ exports part of its output, fell yesterday to 50 euros per megawatt- hour, its lowest close since November 2010. The futures contract was unchanged today.

Kit Digital Inc. (KITD) retreated 23 percent to 95.70 koruna, the lowest price since cross-listing its New York-traded shares in Prague in January 2010. The online video software maker posted preliminary first-quarter revenue of $59 million, trailing the $72.4 million mean estimate of analysts polled by Bloomberg.

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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