The PX-50 index closed at 786.1 points yesterday

The PX-50 index closed virtually unchanged at 786.1 points ahead of the main results due today (Cesky Telecom and Komercni banka). Komercni banka fell 1.60% yesterday due to the generally negative outlook for H1 figures; the weakness is also partially attributable to a correction from the stock’s recent rally. CEZ shed 0.80% on no news. Cesky Telecom broke the CZK 310 resistance but faces another important level at CZK 315; we believe the market is neutrally positioned ahead of the results due later today. We continue to maintain a positive outlook for Zentiva; today the stock price may be impacted by the Q2 results of the Hungarian drug producer Gedeon Richter. Volume in the SPAD reached USD 32.4m.

Milan Procházka