Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Central European Media Gains Before Index Revamp: Prague Mover

Sept. 21 (Bloomberg) -- Central European Media Enterprises Ltd. climbed for its fourth week of gains on speculation that a revamp of a benchmark index will boost demand for the stock.

CME, as the television broadcaster is known, increased 0.8 percent to 145.50 koruna, taking its advance to 2.1 percent this week and 31 percent this month.

The number of CME shares included in the CECE Composite Index of major Polish, Czech and Hungarian equities will more than double to 77 million from Sept. 24, according to data from Wiener Boerse AG, which compiles the gauge. The move follows a swap of CME’s bonds into shares that began trading this month.

“CME’s weighting in the index will slightly increase as a result of the higher number of shares being included, which will in turn support demand from funds tracking this index,” Milan Vanicek, chief analyst at J&T Banka AS in Prague, said by phone today. J&T has a buy recommendation for CME with a price estimate for its U.S.-traded shares of $11.

CME’s current weighting in the CECE index is 0.40 percent, according to data compiled 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

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.