On Patria.cz web pages you will find our new monthly review of the Czech equity market. It contains summary of all important events as well as detailed information on individual stocks. We also included outlook for the month of March. From the content:
• Czech equities increased by 9.5% m-o-m in CZK terms in
February, as measured by the PX 50 index, which closed the
month at 1,199.9 points. The blue chip PX-D gained 9.3% and
finished at 2,893.5 points. In USD terms, the indices increased
by 12.7% and 12.5% respectively. The PX 50 index is currently
55.0% above its value one year ago (in CZK terms).
• The overall trading volume on the Czech equity market
increased by 15.2% m-o-m in February to CZK 75.0bn (USD
3.3bn). The average daily volume stood at USD 166.9m in
February, vs. USD 133.0m in January and vs. the 12M daily
average volume of USD 75.1m.
• The second coalition party KDU-CSL (Christian Democrats)
unexpectedly called for the PM Stanislav Gross to resign over
the current scandal on the PM finances. PM Gross so far
refused to step down, as his party (CSSD-Social Democrats)
said to support the PM.
• Trading in Czech blue chips is likely to be influenced by a
number of factors in March, in particular developments on
the political front such as whether the current Cabinet will
continue as it is or with some changes or whether there will
be early elections.
• Cesky Telecom should be the stock most sensitive to the
political issues given that the deadline for submitting final bids
for the state’s 51% stake in the company has been set for
March 29 while the Cabinet should select the winner by the
end of the month.
• Erste Bank should release its FY2004 results in mid-March
while Komercni banka is scheduled to publish its audited
figures for the full year 2004 at the end of March.
• CEZ is to continue in its expansionary plans by submitting final
bids for three Bulgarian power plants.
Further information about equities, analyses and monthly overviews in .pdf format can be found
HERE.