The PX-50 index weakened by 0.12% on Wednesday. Even though overall activity slowed compared to the beginning of this week, we still recorded higher than average turnover. In particular, Komercni banka was in the investor spotlight as it failed to follow the weakness of its regional peers and did not fall (OTP closed down 2.60%, Bank Pekao -3.76% etc.) We actually continued to see investor demand for the stock throughout the day. Cesky Telecom traded in a narrow range again, expecting further guidelines from the government on the sale of its 51% stake. Only Zentiva dropped over 1% after a lowered recommendation from a London bank. We continue to favour Cesky Telecom at current levels. Volume in the SPAD reached USD 55.12m.
Milan Procházka, Patria Finance