Indices rebalancing:
CECE, PX, WIG20, BUX and FTSE indices are rebalancing today at
close effective on Mar - Monday 23rd.
Czech Republic
CZ Eco (!) The
cabinet decided yesterday to cover 80% of the wages of employees of companies
that were ordered by the government to close last weekend, with the other 20%
to be paid by the employer.
TABAK (!) ODS
party propoused that companies be banned
from paying dividends abroad for the duration of the coronavirus crisis. This
could affect TABAK with its est. dividend of CZK 1600 per share (DY 12.8%).
Poland
PL rates: MPC
Hardt says poland should avoid further rate cuts, may mull TLTRO-style measures
if current moves fail.
JSW (!) Posted
PLN 60.2mn Q4 attrib. net loss vs. PLN 312.1mn gain in prior year period.
EBITDA adjusted for reversal of Radlin impairments came to a PLN 51.8mn as it
took a PLN 190mn q/q hit from falling coal prices and PLN 96.6mn hit from
falling coke prices.
CCC (NEUTRAL)
Will rteduce capex in 2020 to tens of million zloty and will focus it mostly on
technological platforms for e-commerce.
TPE (!)
Reported preliminary FY19 loss of PLN -12mn vs cons. estimate of PLN 888mn in
profit due to a 4Q loss of PLN -866mn.
Tauron is likely to be impacted by a decline in
electricity consumption in 2020.