Czech equities, as measured by the PX Index, were up by 1.8% for the week, to close at 1,793.8. The overall volume of trading on the PSE reached USD 1,123.5m, 16.4% above its 12M weekly average of USD 964.8m.
The Czech market was positively impacted last week by FED's decision to cut interest rates by 50bps to 4.75%. Among the best performing stocks were and , both gaining about 4.5%. strengthened after KKCG sold its 6% stake in the company to J&T. Komercni Banka followed Erste and moved up by almost 3%. CEZ was supported by it continuing share-buy-back program and it closed well above the CZK 1,100 mark. O2 CR finished the past week slightly weaker. The rest of the board was down approximately 1%. On Monday, September 24, the new listing - AAA Auto - will start conditional trading on the PSE.
This week, the CNB should decide about interest rates. We don't expect any changes in the primary 3.25% rate. Friday, September 28, the PSE will be closed for a public holiday.