The weakness is not attributable to any domestic news, we rather see investors to continue to lock in profits if any signs of global sentiment shows weakness. Zentiva dropped 2.2% on selling from both domestic as well as London based accounts but we reiterate our view it will be testing CZK 600 level in near term. We see CZK 600 as a crucial point for further price move and expect strong upward momentum should we break through. CEZ starts trading with 10.000 shares lot as of today, expect more volatility as local market makers will adjust their trading techniques but fundamentally this change has hardly any effect on the share. We see Cesky Telecom trading in CZK 330-340 range ahead of the decision on how to sell government held 51% stake, our near to long term view remains positive. Volume in SPAD reached USD 41.55 mil.
Milan Procházka, Patria Finance