The PX-50 index closed up 0.4% on turnover of EUR 37.9m in the SPAD systém, where volume in Komercni banka made up more than half. The stock was traded at CZK 2,750 all day. International investors were active on both sides. CEZ was the second most active stock but after a stronger opening it erased most of its gains in the afternoon, closing 0.6% up. Cesky Telecom saw only limited interest and stock closed 1.5% up on low volumes. We do not expect any major activity today, Komercni banka will see its last cum-div trading day, but we expect it to trade at 2,750 CZK again. CEZ might see some profit taking after recent gains; Cesky Telecom is likely to trade at around the CZK 300 level.
Silvio Kotarac