Czech equities, as measured by the PX Index, were up by 3.1% for the week to close at 1,563.5. The overall volume of trading on the PSE reached USD 599.5m, 40.2% below its 12M weekly average of USD 1,002.2m.
(1 050 CZK, -1,04%) was the best performing stock on the PSE, gaining a strong 12.8%. Its price was lifted after news about selling insurance units to (1 234 CZK, -2,30%) for EUR 1.5bn. Cigarette producer (7 150 CZK, 1,09%) CR also showed very good performance, rising by 6% after it announced unconsolidated net income which came in about 45% better than expectations. (543 CZK, -1,90%) erased almost 4% as both domestic and international investors were selling. declined as a result of management plans to issue bonds to finance the transaction. The most actively traded name, CEZ, closed the week almost unchanged. (1 455 CZK, -1,22%) reported worse than projected 4Q07 results due to its financial results.
This week we do not expect any major corporate news.