Czech equities, as measured by the PX Index, were up by 1.8% in the past week and closed at 1,561.1. The overall volume of trading on the PSE reached USD 655.4m, 46.8% below its 12M weekly average of USD 1,232.7m.
The best performance of the past week was with almost 7% gain. Also increased nicely and added 5.1%. On the other hand, cigarette producer CR slumped by 11%. PMCR has been traded without dividend rights since Thursday (April 17). As company usually pays out 100% of its unconsolidated net income, we expect dividend of CZK 883 per share. Trading with O2 CR was quite active before the announcement of 1Q08 results on Monday (April 21) after market hours. Same as before, CEZ was the most traded name and closed weekly session slightly stronger. declined last week by 5.7% due stop-loss orders. Also both real ester stocks, and , decreased.
On Monday, O2 CR reports its 1Q08 results. We do not expect any major surprises and similarly to market consensus we suppose net income about CZK 2.7bn. Telco operator also holds AGM where the shareholders should approve dividend proposal of CZK 50 per share. Orco’s last trading day with the dividend rights in Prague is on Thursday, April 24. Management recommended EUR 1.4 per share. The used car dealer, Auto, also holds AGM this week on Friday (April 25).