Czech equities, as measured by the PX Index, were off by 9.3% for the week to close at 810.2. The overall volume of trading on the PSE reached USD 593.6m, 34.1% below its 12M weekly average of USD 901.1m.
CEZ closed the weekly session almost unchanged after it reported its 3Q08 results which came-in better than expected at the net income level but in-line at the EBIT level. Management of the company reiterated its full year guidance. announced quarterly numbers slightly bellow street expectations. beat consensus by 24% at the operating level due to cost-cutting. Net results fell behind estimates impacted by FX losses. Insurance company declined by 7.7% during the past week. Company posted results according to projections at all levels and confirmed full year expectations. became the best performing stock with its price up by 9%. On the other end of the spectrum finished , followed by banks.
This week, market expects 3Q08 results of mining company . Otherwise there are no other major events on the agenda.