The PX-50 index lost 0.68% to 453.9 points on Friday, and though down, it avoided the major declines on European bourses that day. The loser of the day was Komercni banka, trading as low as CZK 1,700 per share intraday; however, local demand did well to absorb much of the selling flow and the stock closed at CZK 1,713 for a loss of 1.2%. The market is likely to trade higher today as it seems to be oversold; we expect Komercni banka and Cesky Telecom to rebound. Total volume Friday reached USD 26 mil.
(Milan Prochazka)