Page 66 - CE Outlook Regions 2023

5.0 Markets outlook

5.1 Markets - Czech Republic

Shares of the majority-state-owned utility CEZ, which in November
announced record profits of CZK18.7bn (€0.8bn) in 3Q 2022 results,
experienced few plunges as windfall tax measures were debated in
November, but were gaining following the dropping of plans to tax 2022
profits and following the release of the company’s prediction for 2023
taxation. In this respect, CEZ shares gains reflected a greater trend of
the energy sector benefiting from the global rise of energy prices.

Banks have been generally doing well, including Erste Bank and
Moneta Money bank shares, though in autumn these also experienced
several plunges as the windfall taxation was being ratified by the
parliament.

5.2 Markets - Estonia

Nasdaq Baltic operates three stock exchanges – in Estonia, Latvia and
Lithuania – and the Nasdaq CSD under one Baltic entity, providing the
capital market infrastructure across the whole value chain – from listing,
trading, and market data to clearing and settlement and safe-keeping of
securities.

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