The PX-50 index closed up 0.26% at 819.1 points on Friday. Overall, the market is still recording steady inflows though volumes remain largely at average levels. The main interest was in CEZ and Cesky telecom. Today we expect a slower session again as New York is closed and its absence will result in lower turnover across all the European markets. As for the market’s direction, we think investors will price in an unexpected sovereign rating downgrade by S&P and so expect general weakness. Volume in the SPAD system reached USD 27.58 mil.
Milan Prochazka