Czech equities, as measured by the PX Index, were up by 0.6% for the week, to close at 1,859.1. The overall volume of trading on the PSE reached USD 826.5m, 2.5% above its 12M weekly average of USD 806.5m.
Activity on the Prague Stock Exchange (PSE) improved toward the end of the week. There were no major corporate catalysts last week. The best performing and most actively traded listing was the energy group CEZ, which strengthened by 3.4 percent, on support from its continued share buy-back programme.
On the other hand, the greatest laggard was the real estate developer Orco Property Group. It was under selling pressure, from investors who realized profits following its secondary public offering last month (June), which achieved a price of EUR 115 per share. Nice performance, over 2%, was seen on Zentiva, Pegas, and Philip Morris. The textile maker Pegas Nonwovens traded up, after surprisingly announcing it will pay out dividends of EUR 7 million, or CZK 21.7 per share, in the third quarter, coming about one year earlier than expected.
For this week we do not expect any important price moving news. Zentiva trades without dividend (CZK 11.5) rights from July 2. The PSE is closed July 5-6 for public holidays.