Czech equities, as measured by the PX Index, were up by 5.6% in the past week and closed at 1,659.9. The overall volume of trading on the PSE reached USD 522.3m, 44.4% below its 12M weekly average of USD 939.5m.
The star of the past week became developer with 21% jump, when investors found the way to underperforming real estate market. Also its peer on PSE strengthened by nice 10%. Another movers were Banka and . Both listings gained almost 15% after reporting their 1Q08 results. significantly surpassed market consensus. posted 1Q08 numbers more or less in-line with the street estimate, but management reiterated its 2008 projection of net income growth of 20%. closed week up by more than 4% and on Friday after market hours PPF announced that plans to launch public bid at the price of CZK 950. There were also losers on PSE during past week. Insurance company declined by 2% as it went ex-dividend rights and cigarette producer erased 4.4%. The most actively traded stock CEZ finished weekly session almost unchanged.
This week on Friday, May 9, is traded without dividend rights of EUR 0.75 per share. The board of CNB should decide on its regular monetary meeting about interest rates also this week; we do not expect any changes. And newcomer on PSE NWR should start conditional trading on Tuesday, May 6. We remind that PSE is closed on Thursday, May 8, due public holiday.