The PX-50 index closed down 0.30%, at slightly below the 1,000-point mark. Cesky Telecom benefited from reports that Swisscom has expressed an interest in the government-held stake, opening at CZK 343 with investor fears that a direct sale would not bring the anticipated supply of shares. The stock though came off marginally after reports from the prime minister’s advisor suggesting the sale may be put off till spring 2005 - later than we anticipated. Komercni struggled at the CZK 3,300 level, following its regional peers which recorded 1.50-2% weakness on the day; we think Komercni is poised for some profit taking and is likely to trade below CZK 3,300 today. Zentiva broke a new record high after a research note from a London house, while the rest of the market traded sideways. Volume in the SPAD reached USD 56.89m.
Milan Procházka, Patria Finance