Czech equities, as measured by the PX Index, were up by 3.9% in the past week and closed at 1,701.1. The overall volume of trading on the PSE reached USD 1,452.4m, 22.1% above its 12M weekly average of USD 1,189.2m.
The most actively traded stock of the past week CEZ jumped by 8.4% after company announced good 1Q08 numbers and management reiterated full year 2008 guidance. CEZ is traded without dividend rights (proposal: CZK 40 per share) since beginning of the past week. Komercni banka also reported its 1Q08 results, which came-in in-line with the expectation. Profit taking at after bad quarterly results send price of the stock down, however we saw some support from local players. The best performing name was used car dealer Auto with gain of 13.4% due ongoing demand. Newcomer on PSE increased during last week by almost 10% which means more than 17% since successful IPO. Media company closed week down by 4.4% on no news.
This week on Monday reported its 1Q08 numbers and surpassed consensus by 23%. Insurance company also reports its 1Q08 this week on Tuesday. CEZ holds its AGM, where shareholders should approve among other items proposed dividends of CZK 40 per share.