The PX-50 index added 0.8% yesterday on a total volume of EUR 48.5m in the SPAD systém. Komercni banka represented about 65% of the total traded volume, with the stock closing up 0.4% as yesterday was its last cum-div CZK 200 (gross) trading day. Cesky Telecom was the best performer, adding 3.2%; its CEO comments regarding Q2 results sparked a slight rally on the stock, though traded volume was far below average. For today we again expect high activity in KB: the stock should defend its CZK 2,600 level as it now trades ex-dividend. Other names are likely to see some profit taking; Philip Morris CR might be an exception as investors are looking for defensive stocks.
Silvio Kotarac