The PX-50 Index once again managed to gain 0.29% as buyers stepped into Komercni banka and Cesky Telecom. Komercni was well bid since the opening hours. Rally was then sparked after a US bank upped estimates for its Hungarian peer OTP Bank. Mostly London accounts were behind the growth. Cesky Telecom traded in descent volume and touched CZK 388 level, we reiterate our view it is likely to trade in CZK 385-395 range, break outside of this level is likely to follow on any relevant privatisation news. CEZ shrugged off recent gains, the stock was untouched even by reports company was short-listed to bid for three Bulgarian power plants.
November industrial output increased by 10.9% y-o-y, or 6.2% after working-day adjustment. Patria expected an annual increase of 12%. The October figure stood at 8.1%.