The PX-50 index lost 2.35% to 431.50 points on Monday as European bourses turned downward. Cesky Telecom led the domestic decliners, losing more than 5.50% to CZK 280.50. Komercni banka and CEZ followed, each losing more than 2% on the day. Total market volume was light at USD 15.15 mil. For today, we expect some upward technical correction, though the market seems set to continue trading bearishly for some time yet.
(Jiri Soustruznik)