Weakness was led primarily by Cesky Telecom, which dropped 3.86% on the day as locals rumoured government may eventually decide to offload its 51% stake via capital market transaction. Recent newsflow for Cesky Telecom was very intensive; we saw number of conflicting news regarding the sale method and timing of the transaction. Cabinet meeting is today and we hope decision will be taken, if any news release, we expect it to occur after regular market hours. Zentiva continued in a downturn correction after recent brokerage downgrade, its main shareholder though rejected market speculations it planned stock offering soon after its lock up period ends. CEZ traded with CZK 9 intraday volatility range, few buyers occurred on back of price and recommendation upgrade from a prominent London bank, local accounts though continue reducing positions in the stock. Only Komercni banka managed to stay in a positive territory on foreign demand and no news. Volume in SPAD reached USD 80.83 mil.
Milan Procházka, Patria Finance