The Czech market added a further 0.92% on Friday. Komercni banka shot up over 4.5% after an upbeat research report from a US house, with trading volume in Komercni alone reaching some USD 107m. CEZ followed in terms of traded volume with almost USD 62m. We saw a little profit taking prior to the close but do not expect significant weakness today. We believe Komercni will sustain its strong momentum and appreciate further in sessions to come.
Balance of payments (July): Patria est. deficit of CZK15bn, consensus deficit CZK14.8bn.