Czech equities, as measured by the PX Index, were off by 2.1% for the week ending November 16th, to close at 1,793.8. The overall volume of trading on the PSE reached USD 1,135.1m, 5% above its 12M weekly average of USD 1,081.3m.
While CEZ posted better-than-expected 3Q07 results and increased its FY 2007 guidance by 18%, it declined by 3.4% for the week. also reported its 3Q07 numbers last week. The results came in broadly in line with expectations. The stock closed the week down 1.2% on international selling. was off by almost 8% on ongoing weakening, which has been influenced by the negative sentiment towards the real estate sector. managed to finish the week slightly up after huge losses during the previous weeks related to its the profit warning. lost 1.8% and was in line with trading in Vienna. was one of two listings closing the week in positive territory copying its US traded line.
This week holds investor days in Prague. We do not expect any other major corporate catalysts.