The Prague Stock Exchange weakened yesterday with the headline PX Index losing 1.81 percent to 1,113.7 points at the close. Power producer CEZ went down 0.92 percent to CZK 855. As expected, a general meeting of CEZ shareholders approved CZK 53 dividend per share, and the stock weakened amidst absence of other new. Both banks recorded losses as well. Austria´s (685,9 CZK, -2,85%) slid by 2.85 percent to CZK 685.90 and Komercni banka lost 2.75 percent to CZK 3,500. Only (414 CZK, -0,07%) held ground as a solid rock amidst reeling markets engulfed in turmoil.
Czech stocks should open lower amid fear on global indebtedness. All major advanced markets fell dramatically overnight. The Czech market is currently relatively stable, liquidity thin, investors rather trade elsewhere. We can hardly expect any major rebound of Czech stocks as a correction has not happened yet.