Czech equities, as measured by the PX Index, were up by 3.2% for the week ending February 15th to close at 1,541.7. The overall volume of trading on the PSE reached USD 831.4m, 32.8% below its 12M weekly average of USD 1,238.0m.
We experienced quite a slow week. Activity remained subdued. Some activity was seen in CEZ, which strengthened on the back of its share-buy-back by almost 3%. The best performance of the past week was seen in , which traded in-line with its regional peers and finished up by 7.3%. Also, O2 CR gained ahead of its reporting of 4Q07 results, which should be announced on Thursday, February 21. Despite its 4Q07 sales coming in above the market's expectations by 1.9%, closed the week almost unchanged. Used car seller Auto erased 13.3% of its market value during the past week on news of its disastrous 4Q07 numbers.
For the coming week, we expect to see O2 CR and Komercni banka report their 4Q07 results on Thursday and Friday respectively. Real estate developer Property Group is holding an extraordinary general meeting this week with a share-buy-back plan on the agenda.