Czech equities, as measured by the PX Index, were up by 1.3% for the week to close at 1,789.3. The overall volume of trading on the PSE reached USD 1,051.1m, 13.8% above its 12M weekly average of USD 923.6m.
Komercni banka reached a new record level above CZK 4,400. The stock was the best performing of the week, gaining almost 9% on the back of good support coming from international buyers. The developer (3 084 CZK, -1,00%) posted better than expected 2Q07 results and experienced a strong rally. In weekly terms, strengthened by 6.2%. The other real estate developer, (1 670 CZK, -0,24%), announced uninspired quarterly figures. (9 800 CZK, 0,45%) CR moved up by 4.8% on the back of solid 2Q07 results, which came-in ahead of consensus. Also supportive was news that its parent company (69 USD, 0,23%) plans to spin-off foreign tobacco production operations. The last developer to posted its results was (760 CZK, 2,36%) and the figures came in below consensus estimates. The CNB unexpectedly raised interest rates by 25bps to 3.25%.
This week is the last trading day (Wednesday, September 5) with the dividend of CZK 50 per share for (610 CZK, 0,56%) O2 CR. Also, some macrodata will be released.