Czech market has corrected its current 2day's sell-off. CEZ was in the spotlight as GDP figures came much higher than market expectations - it has been taken up to
816 and then corrected to 800 CZK. KB jumped in the morning up to 3380, then sold off to 3310 in the afternoon. Unipetrol added supported by new UBS coverage. Zentiva closed at its day high, foreign buyers. Cesky Telecom stayed flat, foreign sellers.
* CEZ - UBS has upgraded to BUY vs NEUTRAL, increased target to 930 CZK from 780 CZK
* UNIPETROL - UBS starts covering it with HOLD recommendation, target 310 CZK
* MACRO - 4Q05 GDP +6,9 %!!!! vs. expected +4.9 %
- CZK currency firms against EUR thanks to GDP figures