The Equity Market: The PX-50 index gained 2.90% yesterday as Prague bounced back from losses posted earlier in the week. Lacking any major domestic news, brokers looked for inspiration from overseas and Western Europe. Komercni banka was the domestic stock in focus yesterday: a late rally just before the market closed pushed it up 5.40%, to CZK 1,520. Total volume in the SPAD reached USD 23.10 mil. Overall, signs of the sustainable growth of the domestic market are mixed; we consider the market long in shares and that any further weakness on major European and US bourses could unleash a sell-off here.
Milan Prochazka