The PX-50 index closed flat on Friday as volumes and market activity continued to reflect the holiday season mood. CEZ was once again well offered by domestic accounts as the announcement of the tender winner for a 66% stake in Slovenske elektrarne nears. The market is worried that CEZ may have overpaid in the tender - even though there is no official confirmation on the value of the bid either from CEZ or from the Slovak government. Cesky Telecom traded at the CZK 331 level. Zentiva gained 1.0% to reach its all-time high after our upgrade to buy. Volume in the SPAD was EUR 19.2m.
Milan Procházka, Patria Finance