The PX-50 index fell 4.05% to 391.20 points on Tuesday, as a broad wave of selling and stop losses hit the market. Philip Morris CR was the top loser, giving up on more than 5% of its value on the day. Komercni banka and CEZ were just behind, both losing 4.9%, and Cesky Telecom lost 3.9% yesterday. Patria was a net buyer of the market, with most of the purchases being the short coverings of hedge funds. However, we even saw some first purchases of the natural accounts, primarily in CEZ and Philip Morris CR. Total market volume yesterday was USD 34.48 mil.
Please note that the PSE will be closed Friday, July 5, due to a public holiday in the Czech Republic.
(Milan Prochazka)