Yesterday the PX-50 index closed up 0.91% after a couple of short coverings hit the market

The PX-50 index closed up 0.91% after a couple of short coverings hit the market. CEZ and Komercni were the two main targets, both trading at decent volumes with a broad market interest. Cesky Telecom touched CZK 330 again but still overhang fears prevail over any kind of fundamental value hunting. Erste Bank saw marginal profit taking after last week's placement. In the days to come we expect this volatility to prevail, with a number of accounts locking in profits while some continue to play the momentum game. Volume in the SPAD reached USD 59.14m.

Milan Procházka, Patria Finance