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CEZ Gains for Second Day Before Earnings as Power Price Climbs

Feb. 27 (Bloomberg) -- CEZ AS, the biggest power utility in the Czech Republic, gained for a second day before reporting fourth-quarter earnings tomorrow and benchmark electricity prices rose to a two-month high.

The stock climbed as much as 2.1 percent before paring the gain to 0.9 percent at 823.4 koruna by 10:18 a.m. in Prague, adding to a 0.2 percent advance yesterday. The country’s PX gauge of 14 companies slid 0.1 percent.

Net income for October to December probably rose to 13.2 billion koruna ($706.2 million) from 6.9 billion a year earlier, according to the median estimate of 12 analysts surveyed by Bloomberg. Power for next-year delivery in Germany, where CEZ exports part of its output, climbed for a fifth day to 54.05 euros per megawatt-hour.

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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