The PX-50 index gained 0.43% yesterday, with Unipetrol the day’s leader in terms of performance as it added almost 4% on upbeat news from the sector. It was mainly the higher than expected premium paid for the Turkish Tupras and a broker upgrade on MOL that supported the share price growth. Volume in Cesky Telecom picked up - with Telefonica’s tender bid at CZK 456 expiring on September 19th, we are seeing both domestic as well as some international names on the buy side. Komercni sustained levels above CZK 3,500 - we think it is poised for further growth. Orco was once again well bid and we continue to favour the mid-cap names. Zentiva announced it has launched a bid for Romanian generic drug producer Sicomed in a deal worth USD 200m - we think the news will have a positive impact on the share as the company has finally moved ahead, seeking additional growth areas abroad.
Retail sales (July); Patria est. 3.0%yoy, Market est. 3.8% yoy
PPI (August); Patria est. 1.2% yoy, Market est. 1.2% yoy