The PX-50 index fell by 1.07% to 426.90 points on Tuesday, despite stronger European markets. Cesky Telecom led the decliners yesterday when it gave up more than 3.60% to CZK 270; the sellers were primarily from domestic houses. Komercni banka and CEZ were also under pressure, but their volumes were moderate. For today, we expect equities to fare worse, both domestically and internationally, as an investor confidence crisis mounts in the US related to dubious corporate accounting practices.
(Jiri Soustruznik)