The PX-50 index lost 1.3% to 447.6 points on Wednesday, sell-offs in Komercni banka and Philip Morris CR pulling the market lower. The market seems finally to be preparing for the "Komercni for Erste" switch on the PSE and, therefore, we believe that the weakness in Komercni banka could persist. Moreover, the bearish mood on western European and US bourses does not bring much comfort for EMEA equity investors; we expect a further wave of selling today in Prague. The total market volume on Wednesday was USD 23.9 mil.
(Milan Procházka)