The Czech market moved higher in mixed trading, with trading volumes in line with the long-term averages. The big news was that the main benchmark PX Index reached a new all-time-high. CEZ was the most actively traded stock as MSDW increased the target price by 18% to CZK 1,366 per share. CEZ improved on its record-setting high price and it is heading towards CZK 1,300. was the best performing listing with the a 3% gain in line with its US traded shares. On the other hand, Komercni banka was the biggest laggard losing 1.5% as investors took profits and pushed the price below the CZK 4,400 level.
Tuesday, the Czech market should be under pressure and a retreat is likely after the market reached its record high yesterday – especially as the US and Asian markets have slumped amid recurring credit concerns. The banks might be depressed as well and copy the poor performance of such major banks as , which have said that credit concerns are still in place and not to expect any near-term recovery.