The PX-50 lost only 0.5%, outperforming by far other regional bourses and western markets as well. Total volume reached a solid USD 196m. C.tel and CEZ were the most actively traded stocks yesterday, both closing modestly down. KB was surprisingly strong and closed a touch higher on good volume. Orco was best performer, up 2.1%. For today we expect the market to again behave defensively and expect mild weakness on all blue chips.
Balance of trade for August: Patria est. deficit CZK 1bn, market est. deficit of CZK 1bn - significantly impacted by the import of Grippen fighter jets.