Czech Republic - Factors To Watch on May 15

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INDUSTRIAL OUTPUT

March industrial and construction output are due for release at 9 a.m. (0700 GMT).

- For real-time economic data releases, double click on the following code:

UNIPETROL EARNINGS SURPRISE

Net profits at oil group Unipetrol doubled in the first quarter of the year, the company reported, beating market expectations of a 39 percent profit increase.

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Unipetrol holds a news conference on the results at 10 a.m. (0800 GMT), followed by a conference call with investors at 1 p.m. (1100 GMT).

CENTRAL BANKER STRIKES MODERATE TONE

The central bank (CNB) need not panic over a sharper than expected pick-up in inflation and can wait for more data before resuming monetary tightening, CNB policymaker Mojmir Hampl told Reuters in an interview.

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Short-dated money market rates erased a mild intraday gain after Hampl cooled market expectations of an imminent interest rate increase to tame resurgent inflation.

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ZENTIVA EARNINGS DISAPPOINT

Generic drugs maker Zentiva posted a 1.6 percent rise in net profit to 518.9 million crowns ($24.86 million), missing expectations as lower than expected sales growth hurt, pushing its shares down.

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CZECH GOVT PICKS BROKER

The government picked the Czech unit of Austria's Erste Bank on Monday as its broker for the planned sale of a 7 percent stake in power generator CEZ .

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EARNINGS POLL: CEZ PROFITS SEEN UP

Net profit at power firm CEZ is expected to jump 21.1 percent in the first quarter on higher electricity prices and despite a mild winter that limited demand for heating, a Reuters poll showed.

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PEGAS A TAKEOVER TARGET?

Polish floor coverings and textiles manufacturer Lentex may be interested in taking over Czech artificial fabrics maker Pegas Nonwovens , Lentex's largest shareholder said.

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INFLATION HITS 7-MONTH HIGH, UNEMPLOYMENT FALLING

Czech inflation quickened more than expected to hit a 7-month high in April, confirming a resurgence of price growth and leading the market to discount almost fully an interest rate rise later this month.

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INSTANT VIEW ON APRIL INFLATION DATA........[ID:nL09317767]

FACTBOX ON CENTRAL BANK'S FORECASTS.........[ID:nL0428777]

- OVERVIEW OF ANALYSTS' ECONOMIC FORECASTS: [ID:nL02664655]

- SUMMARY OF COMMENTS BY CNB POLICYMAKERS: [ID:nL26200293]

ANALYSTS EXPECT RATE HIKE BY JUNE

The Czech central bank (CNB) is very likely to raise interest rates by 25 basis points by June following the strong April inflation data, a Reuters poll of 19 analysts showed.

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FOR DETAILED FORECASTS, DOUBLE-CLICK ON [ID:nL10503700]

For overview of economic data and forecasts click on For Instant Views of key economic data click on [CZ/INSTANT] For summary of economic data and forecasts For diary of forthcoming Czech events [CZ/DIARY] For calendar of east European economic indicators [CONV/DIARY] TOP NEWS -- Emerging markets [TOP/EMRG] TOP NEWS -- Convergence watch [TOP/EAST]

For an economic indicator diary for the euro zone, the United States and other Group of Seven countries see

For real-time stock market index quotes click in brackets: Warsaw WIG20 Budapest BUX Prague PX

News editor of the day: Alan Crosby on +420 224 190 477; fax: +420 224 229 935

E-mail: prague.newsroom@reuters.com

Reuters Messaging: alan.crosby.reuters.com@reuters.net

($1=20.97 Czech Crown)

[PRAGUE/Reuters/Finance.cz]