The PX-50 index closed down 0.2% on Wednesday. Overall, it was an uninspiring session with a lack of flows and related news. Philip Morris CR gave up a further 1.6% and touched levels below the CZK 14,000 level, however the selling seems to be lacking the strength of the previous session and we started seeing some bids mostly from local funds. Zentiva was pushed below CZK 530 despite news that it is the latest addition to the MSCI index series. Cesky Telecom held at the CZK 330 level and is again likely to trade in a narrow range unless any privatization related news is out. Investors will start eyeing Unipetrol again as the deadline for the Ceska rafinerska option expiry nears. For today, we expect another dull day with limited volume. Volume in the SPAD system reached EUR 26.8m.
Milan Procházka, Patria Finance