Czech equities, as measured by the PX Index, were off by 1.8% in the past week and closed at 1,559.1. The overall volume of trading on the PSE reached USD 1,315.3m, 6.5% above its 12M weekly average of USD 1,235.0m.
The best performing stock during past week was (590 CZK, -5,16%) which gained more than 21%. Supportive for share price were some initiation coverage and rebalancing of main Prague’s benchmark PX Index. gets weight of 10.94%. (1 140 CZK, 1,33%) strengthened by almost 10% after main shareholder (42 EUR, 1,57%) made counterbid of CZK 1,050 as reaction to PPF’s voluntary offer of CZK 950 per share. The most traded listing CEZ shoved nice performance and became one of few names closing weekly session in positive territory. Banks declined following negative sentiment in the sector. Real estate developer (870 CZK, -1,95%) fell by almost 10%, but on the other hand (640 CZK, -5,39%) managed to add 3%.
From this week (Monday 23) the new PX Index base came in force. The board of CNB holds monetary meeting. We do not expect any changes of main interest rates (3.75%). Unipetrol’s AGM takes place on Thursday (June 23). Shareholders will vote, among others, about new item on agenda - dividends payments.