Czech equities, as measured by the PX Index, were up by 0.7% in the past week and closed at 1,572.3. The overall volume of trading on the PSE reached USD 557.1m, 53.5% below its 12M weekly average of USD 1,197.4m.
The best performing stock of the past week became with gain of almost 6% benefiting from analyst upgrade. Despite worst than expected 1Q08 results, telco operator O2 CR strengthened by 2.3%. CEZ was the most actively traded name as usual and added 0.6% being still supported by ending share buy back program. Both banks, and Komercni banka, finished week slightly stronger. Generic drug producer declined, company posted its 1Q08 sales which came in slightly worst than market projections. Real estate developers decreased as negative sentiment in the sector doesn’t improve.
This week CR, Komercni banka and hold their AGMs. Insurance company is traded without dividend rights from Monday (April 28). reports its 1Q08 results on Wednesday, April 30 and we expect net profit at EUR 317m. Also will announce its 1Q08 numbers this week. According to our projection net profit should reach USD 0.7m.