The Czech market closed down 0.40% on broad market profit taking. Komercni banka was the day’s most volatile stock, with a large supply of shares throughout the day and aggressive profit taking and fresh buys into the name in the last 30 minutes of trading. Cesky telecom continues to drift lower, though volumes continue to be light. We see no relevant domestic news; the market generally lacks any near-term catalysts. The Polish market is closed today, and we expect light trading to persist.
Industrial Output (September): Patria estimates 7.5% y/y, Reuter’s poll median value 7.4% y/y.