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1300 GMT 19June2008 - NWR up 7 pct, extends gains on upbeat recommendations
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Shares in miner New World Resources jump as much as 7 percent to a new high
of 603 Czech crowns in mid afternoon trade as investors continue to snap up the
stock after upbeat recommendations from Merill Lynch and UniCredit.
Both banks started coverage with "buy" ratings. Earlier this week, Morgan
Stanley put an "overweight" rating on the stock.
NWR is up 27 percent since its Prague debut last month.
Reuters Messaging rm://chris.borowski.reuters.com@reuters.net
1250 GMT 19June2008 - CEZ gains as state stops selling
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Shares in CEZ <> rise 1.7 percent to 1,343 crowns on Wednesday as
the Czech government halted selling shares in the power group.
The state, which holds a majority stake in the largest listed company in the
region, has been cutting its stake to raise means for road construction.
Dealers said the government has not been active on the market over the past
two days and one dealer said the state may have finalized the sale and has quit
the market altogether.
The government's stake fell to 63.2 percent from 67.6 percent since the
ministry started selling. It has interrupted the sale in the past.
A finance minstry spokesman declined to comment whether the state has
finalized the sale.
CEZ has gained 3.63 percent since Monday.
For more news on CEZ double click on []
Reuters Messaging rm://jana.mlcochova.reuters.com@reuters.net
0805 GMT 19June2008 - UniCredit starts Cyfrowy Polsat, NWT at "buy"
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UniCredit starts coverage of pay-TV operator Cyfrowy Polsat <CPSM.WA> and
mining group New World Resources <NWRSsp.PR> at "buy" with price targets of 17
zlotys and 656 Czech crowns, respectively.
NWR up 2.7 percent to new high of 584.10 crowns, but Cyfrowy down 2.4
percent to 13.67 zlotys.
Reuters Messaging rm://chris.borowski.reuters.com@reuters.net
0750 GMT 19June2008 - Wood&Co. upgrades LPP to "hold"
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Wood&Co. increases its rating for clothing retailer LPP <LPPP.WA> to "hold"
from "sell". It cut its price target for restaurant group AmRest <AMMR.WA> to
110 zlotys from 138 zlotys, but maintained a "buy" rating.
Reuters Messaging rm://marta.filipak.reuters.com@reuters.net
0735 GMT 19June2008 - Warsaw bourse hits fresh 2-year low
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Warsaw's main WIG20 index <> falls 1.9 percent in early trade to
2,625.4, its lowest level in two years.
Traders say the index is following global sentiment, but its retreat is also
caused by the weakness of local funds that continue to see withdrawls by some of
their clients.
Among the biggest losers are Asseco Poland <SOBK.WA> (-2.9 pct), TVN
<TVNN.WA> (2.8 pct), BRE <BREP.WA> (-3 pct).
Reuters Messaging rm://chris.borowski.reuters.com@reuters.net
