The PX-50 Index weakened by 0.56% though still managed to remain above 1,000 points benchmark

Zentiva took lead in terms of volume, first time since its inception in SPAD it was the day’s most actively traded stock. The pharma producer dropped after recent strong performance as well as lowered recommendation by a prominent London bank. Zentiva broke below CZK 700 level on volume well exceeding long-term average. Philip Morris traded in a similar pattern, it gave up on 3.80% of its value though no relevant news was released. We think yesterdays selling may signal further correction may hit the Czech market in days to come. Cesky Telecom awaits tomorrow’s decision of Cabinet on sale of its 51% stake. Volume in SPAD reached USD 76.57 m.

Milan Procházka, Patria Finance