The PX-50 index bounced up 1.0% yesterday in spite of an aggressive sell off in the morning hours of trading – late buying recovered the early losses. CEZ eventually gained over 2.1%, Komercni 1.5% and Philip Morris 2%. The whole market was better bid by international accounts. All mid caps performed strongly as well, with Orco and CME both gaining over 2% on the day - we believe both will continue to be better bid.
GDP, 2Q: Patria estimate 5.0% yoy; market consensus 4.8% yoy