CEZ Gains for Second Day Before Earnings as Power Price Climbs
CEZ AS (CEZ), 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 (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.
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