Komercni banka and Cesky Telecom were behind the weakness, however neither of the names traded with any relevant news or technical factor. Unipetrol gained a further 2.55% with strong demand from retail buyers as the market expects the SEC to give an opinion on the public bid by PKN over the next few days. CEZ touched its all time high again following recent upgrades and a series of upbeat news. In the near term we continue to expect a positive market trend.
Industrial production fell by 0.8% m/m in May but increased by 4.0% y/y.