The market closed higher thanks to overall positive mood, but traded volume was below the averages. We saw some late profit taking. CEZ was the most traded again reaching CZK 1,083, but finished cheaper by CZK 10 on mentioned late profit taking. Orco gained more than 3.3% despite of worse-than expected 1Q07 results as investors were closing short positions. Telefonica O2 CR closed slightly above the CZK 610 level, but market looked better offered towards the end of the session. Komercni banka firmed, but failed to hold day high of CZK 3,890 and finished below CZK 3,850.
The board of the Czech National Board raised interest rates by 25bps to 2.75%.