Komercni banka was lifted towards the end of the session by international buyers despite being sold off in the early hours of trading. CEZ added 1.28% after a series of broker upgrades; the same implied to Zentiva, which added 1.94% on the day. Unipetrol's volume strengthened to almost USD 4m worth of shares; we think buying is taking place ahead of expected clearance of the PKN takeover and launch of the public buy-out. Cesky Telecom broke through the CZK 330 level, with ongoing domestic and foreign demand pushing the stock higher; we are seeing only a limited amount of sellers even at these levels. Today Polish PKO BP debuts on the WSE; trading in the name starts 1 hour ahead of regular trading hours, and could weigh on the regional banking names as these should adjust their valuations to this significant issue. Volume in the SPAD reached USD 51.60m.
Milan Procházka, Patria Finance