Czech equities, as measured by the PX Index, were off by 2.8% in the past week and closed at 1,587.4. The overall volume of trading on the PSE reached USD 958.7m, 20.6% below its 12M weekly average of USD 1,207.1m.
The only stock finishing in positive territory during the past week was the drug producer with a small gain of 0.1%. The company was supported by local accounts. The biggest losses were again in the real estate sector. Stop loss orders pushed prices to historical lows; fell by 14% and by 9.5%. Both banks also declined as financial sector is under pressure. erased 2.1% despite news that Pattern Company Orlen surprisingly plans to discuss dividend payment on the upcoming AGM (June 26). O2 CR decreased after one domestic player deleted it from its “TOP 10” list and Raiffeisen cut its target price cut. The most traded name during the past week was traditionally CEZ, its stock price decreased by 0.7%.
For this week there are no expectations of major corporate news. holds its AGM. Agenda includes among others financials and profit distribution.