Czech market closed yesterday higher as all blue-chips gained. We have seen both locals (end clients) and intnl playing the game, but total turnover still below long-term avg.
CEZ: closed in +tive territory despite morning drop. seems to be supported below CZK 590 lvl, both work and algo flows mainly fr/ abroad
KOMB: jumped almost 4.5% on morning short-squeeze and ongoing a/noon demand
pushed name well above 90 & 200 DMA. Some tiny pft-taking above CZK 4700
ERSTE: firmed in-line w/rest of EU banks, only arbitrage player's active tday.
TELEC: popped up a bit, but vol dried up and no real interest up there.
Czech market will open higher supported by CEZ and banks. We may see CEZ to test 600 CZK levels after it posted good 2Q14 results while banks, especially KOMB should get lifted thanks to ongoing international demand. TELEC may however eased as the stock has been lifted on thin vol yesterday.