The PX-50 index closed sharply down yesterday, losing 2.12% of its value, to 415.8 points. The market opened lower with selling pressure on CEZ after the prime minister said CEZ would not be privatized by his government. The stock lost 3.26% on the day, the selling flow originating abroad but local investors increasingly sold the stock as the day proceeded. The top decliner yesterday was Cesky Telecom, however; trading in a low volume, it lost more than 5.2% given the negative worldwide sentiment toward telecoms. Unipetrol went against the trend and rose 2.6% on speculation that the government may cancel the current tender sale of the company. Total market volume reached USD 17.20 mil. yesterday.
Milan Prochazka