PRAGUE, May 5 (Reuters) – Here are news stories, press reports and events to watch which may affect Czech financial markets on Tuesday.
ALL TIMES GMT (Czech Republic: GMT + 2 hours) =========================ECONOMIC DATA========================== Real-time economic data releases…………….. Previous stories on Czech data…………. **For a schedule of corporate and economic events: website ===========================NEWS/EVENTS========================== MONETA Money Bank cuts 2020 outlook as provisioning starts Czech Philip Morris Proposes Czk 1,560/Share Dividend From 2019 Earnings CORONAVIRUS CASES: The Czech Republic had 7,819 confirmed cases of coronavirus infection by Tuesday morning, with 38 new infections on Monday.
So far 3,807 people have recovered from the Covid-19 illness and 252 people have died. website MEASURES: The Czech Republic will lift a ban on international bus and train travel from May 11 as the government on Monday rolled back more of its measures to combat the coronavirus outbreak and added aid to hard-hit companies.
CENTRAL BANK: The Czech National Bank will likely cut interest rates again on May 7, by 50 basis points, as the country braces for the economic impact of the coronavirus pandemic, a Reuters poll showed on Monday. SKODA: Czech carmaker Skoda Auto, part of the Volkswagen Group , reported a 25% drop in first-quarter operating profit on Monday, but said the biggest hit from the coronavirus outbreak would come in the second quarter.
BUZZ-Royal Mail: Tops midcap after Czech billionaire Kretínský raises stake SLOVAKIA: Slovakia will accelerate the reopening of its economy from its coronavirus shutdown as the rate of new infections has slowed, Prime Minister Igor Matovic said on Monday. BUDGET: The Czech central state budget deficit trebled to 93.8 billion crowns ($3.78 billion) in the first four months of the year compared to 2019 due to the rising spending and the costs of the coronavirus outbreak, Finance Ministry data showed on Monday.
JOBS: The Czech unemployment rate rose to 3.4% of the workforce in April, the Labour Ministry said on Monday. CEE PMI: Sentiment in central European manufacturing fell in April as coronavirus-related lockdowns put the brakes on factory activity, leading to steep declines in output and new orders.
PMI: Czech factory activity fell in April to the lowest level since March 2009, the Markit Purchasing Managers’ Index (PMI) showed on Monday. UBER: Uber said on Monday it was closing down its Uber Eats operations in eight markets because they did not offer a clear route to becoming the number one or number two online food delivery operator, its stated aim for its Eats business.
CEE MARKETS: Central European stock markets fell on Monday as global markets avoided risk after U.S.-China tensions flared up, while fresh PMI data in the region showed a dismal picture about the economic damage from the novel coronavirus pandemic. EUROPE POWER: European spot wholesale power on Monday fell due to more availability of renewable and French nuclear supply while forwards contracts eased amid mixed trends in the fuels and carbon markets.
========================= PRESS DIGEST ========================= VACLAV HAVEL AIRPORT: Eurowings resumed service from Prague to Duesseldorf, KLM reopened flights to Amsterdam. Hospodarske Noviny, page 14 SMARTWINGS/CSA: The state should help Smartwings/CSA carrier, although the airlines company is in private hands, Industry Minister Karel Havlicek said.
In an optimistic scenario, 60% of regular flights will reopen in autumn. A pessimistic outlook sees just 40% revival, he said. Lidove Noviny, page 12 HOTELS: Companies active in tourism should get special loans, because banks hesitate to lend to them because of the risk involved, Tomas Prouza of the SOCR retailers’ association said.
Hotels and agen baccarat restaurants need to be saved, he said. Hospodarske Noviny, page 3 SKODA AUTO: Suppliers of Skoda Auto are now working in a regime of “just-in-time” deliveries, and they are operating well, Skoda board member Michael Oeljeklaus said. The carmaker is cannot run at 100% of its capacity at the moment, partly due to the weaker supply of parts and partly due to limits on workforce, especially at the border with Poland, as Polish workers are not fully available, he said.
Mlada Fronta Dnes, page 12 (Reuters has not verified the stories, nor does it vouch for their accuracy.) Prague Newsroom: +420 234 721 617 E-mail: email@example.com (Reporting by Prague Newsroom)