Czech Republic - Factors To Watch on June 3

                                
 PRAGUE, June 3 (Reuters) - Here are news stories, press
reports and events to watch which may affect Czech financial
markets on Wednesday:
                                
 ALL TIMES GMT (Czech Republic: GMT + 2 hours)

======================== ECONOMIC DATA ========================
                                
 Real-time economic data releases....................<ECONCZ>
                                
 Previous stories on Czech data.............[CZ-RTRS-LEN-ECI]
                                
 Overview of economic data and forecasts..........<CZ/ECON15>
                                
 Updates on CEE currencies.............................[CEE/]
=========================EVENTS=================================
                                
 PRAGUE - 10-year government bond auction <CZ1002471=>.
                                
 Related news: [RTRS-LEN-CZ-DBT]
                                
 
=========================TOP NEWS===============================
                                
 TRADE IDEA: Barclays Capital recommended paying Czech
10-year interest rate swaps at 3.96 percent, targetting a rise
to 4.80 percent over the next six months, due to the likely end
of rate cuts and rising government debt.
                                
 Story: [ID:nL2645769] Related news: [RTRS-LEN-CZ-MMT]
                                
 
                                
 FX RETREAT ON LATVIA: Central Europe's currencies gave up
recent gains on Tuesday, with worries of a Baltic devaluation
overshadowing strong gains in stock markets.
                                
 Story: [ID:nL2511896] Related news: [RTRS-LEN-CZ-FRX]
                                
 
                                
 E.EUROPE MARKET RALLY FRAGILE: Eastern Europe has lost out
on investor flows in the months-long emerging market rally and
while it has benefitted from higher risk appetite, the recovery
remains fragile as long as big players stay on the sidelines. 
                                
 Story: [ID:nLS947352] Related news: [RTRS-LEN-CZ-MMT]
                                

---------------------- MARKET SNAPSHOT ------------------------
 Index/Crown Currency  Latest    Prev    Pct change   Pct change
                                
                              close   on day       in 2008
 Czech Equities  <.PX>   000.0    927.9   +0.00       -100.00
 vs Euro     <EURCZK=>  26.770   26.815   +0.00         -1.01
 vs Dollar      <CZK=>  18.718   18.707   -0.01         -2.98
 U.S. Equities  <.DJI>  08,741   08,721   +0.22        -34.10
 Pvs close or current levels vs prior domestic close at 1500

=========================PRESS DIGEST===========================
                                
 ORCO: Real estate entrepreneur James Woolf teamed up with
Orco Property Group <ORCO.PA> minority shareholders representing
14 percent in the company in a bid to oust Orco's chief Jean
Francoise Ott. They blame him for the developer's financial
shape. Orco received six month court protection from creditors.
Woolf wants to become Orco'c chief executive.
                                
 Hospodarske Noviny, page 1
                                
 
                                
 CSA: The government which controls 91.51 percent in Czech
Airlines (CSA) will buy a 0.24 percent stake in the carrier from
the Slovak National Property Fund for 601 euros per share, ahead
of CSA privatisation later this year. The transaction values CSA
at 4.5 billion crowns ($239 million). The city of Bratislava may
also sell its 0.98 percent stake in CSA.
                                
 Hospodarske Noviny, page 17
                                
 
                                
 TELEFOCNIA O2: Czech Telefonica <SPTTsp.PR> plans to have 3G
coverage in a third of the country's population by the end of
the year.
                                
 Hospodarske Noviny, page 20
                                
 
                                
 Reuters has not verified the media reports, nor does it
vouch for their accuracy.
                                
 
 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: Jan Lopatka on +420 224 190 474;
fax: +420 224 229 935
                                
 E-mail: prague.newsroom@reuters.com
  (Compiled by Jana Mlcochova)