Czech Republic - Factors To Watch on May 21

                                
 PRAGUE, May 21 (Reuters) - Here are news stories, press
reports and events to watch which may affect Czech financial
markets on Friday.
                                
 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 - Used car dealer AAA Auto <AAAAsp.PR> should release
first quarter results.
                                
 Related News [RTRS-LEN-CZ-RES]
                                
 
==========================TOP NEWS============================
                                
 ORCO CUTS LOSS: Central European developer Orco Property
Group <ORCO.PA> <ORCOsp.PR> narrowed its first quarter loss to
15.6 million euros from 45.7 million a year ago, it said on
Thursday.
                                
 Story: [ID:nLDE64J29F] Related News [RTRS-LEN-CZ-FRX]
                                
 
                                
 CEE FX WEAK AGAIN: Central European currencies resumed
weakening on Thursday afternoon due to regulation fears in the
euro zone, but the zloty recovered part of the losses as market
sources said Polish state-owned bank sold euros.
                                
 Story: [ID:nLDE64J0EI] Related News [RTRS-LEN-CZ-FRX]
                                
 
                                
 POWER PRICES DIP: Czech power prices dipped along the curve
on Thursday, tracking both oil and emissions on concerns the
European debt crisis would sap risk appetite and demand for
energy.
                                
 Story: [ID:nLDE64J1TL] Related News [RTRS-LEN-CZ-ELG]
                                
 
                                
 NEXT GOVT FACES KEY ENERGY QUESTIONS: A likely left-wing
victory in next week's Czech election could clear the way for
tighter regulation of local power markets and mean a shorter
leash for state-owned CEZ, central Europe's biggest utility.
                                
Story: [ID:nLDE64H0P5]  Related News [RTRS-LEN-CZ-HELE]
                                
 
                                
 T-BILL AUCTION: Following are results of Thursday's
auction of 13-week Czech Treasury bills <CZ200810T=> compared
with the previous sale of bills with the same maturity.
                                
Story: [ID:nPRA005074] Related News [RTRS-LEN-CZ-DBT]
                                
 
                                
 C.BANKER ON SHORT-SELLING: Germany's ban on naked short
selling made no sense as deals will take place in other
countries, Czech central bank Vice Governor Miroslav Singer was
quoted as saying on Thursday.
                                
 Story: [ID:nLDE64J09M] Related News [RTRS-LEN-CZ-PLCY]
 ---------------------- MARKET SNAPSHOT ------------------------
 Index/Crown Currency  Latest    Prev    Pct change   Pct change
                                
                              close   on day       in 2010
 Czech Equities <.PX>   1142,4   1142,4    -4,02       2,25
vs Euro   <EURCZK=>    25,708    25,825    0,45      2,32
vs Dollar    <CZK=>    20,436     20,942   2,42       -11,2
 U.S. Equities <.DJI>  10068,01  10444,37  -3,6      -3,45
 Pvs close or current levels vs prior domestic close at 1500 GMT

===========================PRESS DIGEST========================
                                
 CME REORGANISING NOVA: Czech TV station Nova, the most
profitable unit of television group Central European Media
Enterprises (CME) <CETV.O> <CETVsp.PR>, is undergoing a major
reshuffle as profitability continues to suffer. Chief Executive
Petr Dvorak is likely to leave the post but will stay in the
position of one of CME's five vice presidents, the paper reports
citing unnamed sources. Nova's marketing director Miroslava
Novakova should replace Dvorak, the paper says. 
                                
 Hospodarske Noviny, page 1
                                
 
                                
 CANDIDATES FOR AMBASSADOR TO THE U.S.: The leading rightist
party the Civic Democrats may nominate former Prime Minister
Mirek Topolanek to the position of the next Czech ambassador to
the U.S. But Defence Minister Martin Bartak is also interested
in the job.
                                
 E15, page 1
                                
 
                                
 PEGAS PROFIT RISES: The first quarter net profit at
artificial textiles maker Pegas Nonwovens <PGSNsp.PR> rose by 13
percent year on year to 7.7 million euros ($9.56 million).
                                
 Hospodarske Noviny, page 27
                                
 
                                
 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
                                
 (Compiled by Jana Mlcochova)
                                
 E-mail: prague.newsroom@reuters.com