The PX-50 index closed down 1.19% at 850.5 points, which was the first and likely the most severe correction since mid-August when the Czech market bounced up for a strong rally. CEZ, as its strongest component, was the most obvious target for sellers, losing 3.17% on the day. We saw larger institutional accounts on the selling side. Other stocks fell in sympathy - Komercni down 1.80%, Erste -0.57% and Cesky Telecom -1%. Today we are likely to continue to see further weakness and expect more investors to lock in profits. Volume in the SPAD reached USD 38.22 m.
Milan Procházka