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Czech Stocks: Central European Media, CEZ, Erste Move in Prague

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Dec. 21 (Bloomberg) -- The Czech Republic’s PX stock index rose 1.4 percent to 879.8, its highest close in two weeks.

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

Central European Media Enterprises Ltd. (CETV CP) rose 2.6 percent to 129 koruna. The broadcaster yesterday slumped to its lowest intraday level in 33 months, pushing the 14-day relative strength index for the stock to 26 at the close. Readings lower than 30 suggest to some technical analysts a security or an index may rise. The RSI increased to 30 today.

CEZ AS (CEZ CP), the biggest Czech power producer, dropped from the highest in almost four months, sliding 1 percent to 777 koruna. Electricity contracts for next-year delivery in Germany, where CEZ exports part of its output, declined 0.7 percent to 52.15 euros per megawatt-hour.

Erste Group Bank AG (RBAG CP) of Austria jumped 4.6 percent to 330.3 koruna, paring 2011 losses to 63 percent. The European Central Bank said today it will lend euro-area banks more than expected for three years to keep credit flowing during the sovereign-debt crisis.

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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