The Czech market continued recovering yesterday, adding a further 1.33%. Komercni banka was strongly bid by an international buyer ahead of its quarterly report due October 31. We also continue to see some investors accumulating Unipetrol shares, particularly after last week’s conference call given by the PKN and Unipetrol managements. Cesky Telecom drifted slightly down on rumors that Telefonica may levy a management fee, similar to what France Telecom did to TPSA. Investors in Cesky Telecom are positioning ahead of the Q3 release and the investor conference call due tomorrow.
Please note that the Czech market is closed on Friday 28 due to a public holiday. Trading resumes on Monday, October 31 as normal.