Czech Republic - Factors To Watch on Oct 20

PRAGUE, Oct 20 (Reuters) - Here are news stories, press reports and events to watch which may affect Czech financial markets on Friday:

SENATE AND LOCAL ELECTIONS

Czechs go to polls to elect one third of Senate, the upper house of parliament, for the next six-year term in the first round of the vote on Friday and Saturday.

Czechs also elect representatives to local administrations.

The vote is seen as a litmus test for possible early parliamentary elections to break a political stalemate in the lower house.

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- For FACTBOX listing key points of the Senate vote, double click on [nL19184081].

- For most recent news on Czech politics, double click on the following link: [RTRS-LEN-CZ-POL]

NO DATA RELEASES

No economic data are due out on Thursday.

- For calendar of real-time economic data releases and consensus market forecasts, double click on <ECONCZ>.

C.BANK SEES SOME EURO CONVERGENCE

The Czech economy has become more convergent with the euro zone in some areas but the deteriorating fiscal outlook and inflexible labour market remain a key risk for euro adoption, the central bank said in a summary of its annual assessment of the country's readiness to join the euro zone.

[nL19886865] [RTRS-LEN-CZ-CEN-FRX]

Central bank board member Pavel Rezabek will miss the central bank's Oct. 26 monthly policy meeting, the bank said.

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UNIPETROL EYES UPPING RAFINERSKA STAKE

Refining and petrochemical group Unipetrol <UNPEsp.PR> is interested in raising its 51 percent stake in domestic refinery operator Ceska Rafinerska, a senior Unipetrol executive said.

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POLL: CROWN SEEN FIRMING

The Czech crown is likely to rally more than 2 percent to new all-time highs of 27.70 per euro <EURCZK=> over the next 12 months, extending a long-term trend fed by rising exports, a Reuters poll shows.

[nL1863825] [nL18826170] [CZK/POLL]

Individual forecasts can be accessed through the following page <CZ/ECON07>.

PPF EYES IPO

Financial group PPF will combine its insurance, pension fund and asset management business into one group which might be floated on the stock market, the head of the new structure said.

[nL19214664] [RTRS-LEN-CZ-IPO]

SEVEROCESKE PROFITS DROP

Lignite miner Severoceske Doly, a unit of power firm CEZ <CEZPsp.PR>, posted a 1.61 billion crown ($71.43 million) net profit for January-September, down from 1.73 billion a year ago.

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Erste Bank has raised its target price on shares in CEZ <CEZPsp.PR> by 27 crowns to 989 crowns, while maintaining its "buy" recommendation on the stock, the bank said.

[nL19189554] [RTRS-LEN-CZ-CEZPsp.PR]

TOYOTA INVESTMENT

Toyota Motor Europe <7203.T> will invest 13.3 million euros to build a logistics center and a storage facility for original Toyota and Lexus spare parts in the Teplice region of the Czech Republic, writes the daily Hospodarske Noviny (page 20).

Overview of past economic data and market forecasts <CZ/ECON15> For Instant Views of key economic data click on [CZ/INSTANT] For summary of economic data and forecasts <CZ/ECON01> 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 <G7TODAY>

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

((Compiled by Marek Petrus; Reuters Messaging: rm://marek.petrus.reuters.com@reuters.net; e-mail: prague.newsroom@reuters.com or marek.petrus@reuters.com; Tel: +420 224 190 477))