Shares on the PSE firmed further yesterday as investors were buying all of the
Czech blue chips – mainly Erste, CEZ and Philip Morris. The PX-D index reached
a new all-time high gaining 1.0%. The biggest gainer was Philip Morris, which rose
by 1.5% and closed safely above the 18,000 level. CEZ added 1.1% on
international buying interest. Erste has continued its post-BCR rally, being
supported also by a new target price of EUR 49.3, set by West LB. Overall trading
turnover was 65% below the year-to-date daily average.