Czech equities, as measured by the PX Index, were up by 0.7% in the past week and closed at 1,433.7. The overall volume of trading on the PSE reached USD 1,767.7m, 38.9% above its 12M weekly average of USD 1,272.5m.
CR became the best performing stock of the past week gaining more than 10% and crossed the CZK 5,000 level. O2 CR posted slightly better 2Q08 results and increased by almost 4%. added nice 7.4% copying trading in Vienna. Despite good performance of , Komercni banka closed the week slightly weaker due to local and international supply. declined on negative sentiment and foreign accounts on the sell side. The most actively traded stock CEZ lost almost 5% during the past week. The trading with was also very active, it closed the week down by 5.3%. PPF refused to participate in the biding war and pulled its CZK 950 bid back. Nice gain of 9% on . Also the developer jumped by 9%, while closed the past week down.
2Q8 reporting season continues this week with and . Both companies will announce their results on Wednesday (July 30). We expect to post net income of EUR 324m and bottom line of should reach USD 53m.