The PX-50 index fell 0.65% to 457 points yesterday. Philip Morris CR went through a correction after weeks of strong gains; it lost 2.6% and closed below CZK 10,260. Komercni banka was the most actively traded stock yesterday, losing 1.3% in value with significant foreign interest on the sell side. Cesky Telecom lost more than 1% to CZK 317.30 following weakness in European telcos. Total market volume was USD 24.7 mil.
For today, we expect the market decline to continue, we believe Komercni banka and CEZ are likely to further weaken as Europe’s pre-open indicates negative territory.
Milan Procházka