Index PX-50 up 0.6% after Czech blue chips report stronger than expected results for Q1

Komercni Banka added over 2.5% despite its trading volatility was higher than average. We saw substantial supply of stock from London accounts on CNB rate cut on Thursday, on the other hand some of the domestic funds accumulated Komercni shares on back of upbeat Q1 numbers. CEZ gained over 2.8% ahead of its earnings release today. Erste bank dropped over 2%, we think it follows recent patter of all Eastern European banks which had some rough sessions in recent past while Erste managed to hold its levels. Erste Bank reports on Friday, May-6. Philip Morris gained further 1.7%, dividend yield of the stock is now even more attractive after Thursday surprise cut.