CEZ Falls From Highest in Five Weeks, Pares Third Weekly Advance
CEZ AS (CEZ), the biggest Czech utility, fell from a five-week high, paring its third week of gains as the price of electricity fell to the lowest in 19 months.
The stock fell 1.4 percent to 742.5 koruna by 3:20 p.m. in Prague, reducing this week’s advance to 1.6 percent after being unchanged yesterday. CEZ rose 3 percent in the three days ending June 6 to the highest price since April 30.
Next-year power in Germany, where CEZ exports part of its output, slid 0.4 percent to 48.10 euros per megawatt-hour, the lowest since November 2010. Global stocks and oil fell and the euro weakened as German exports and Italian industrial output shrank while policy makers damped expectations for monetary stimulus.
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