The PX-50 index gained 1.42% to 470.7 points on Monday. The gains were led primarily by CEZ (+2.9%) and Philip Morris CR (+3.6%). Both stock were well demanded by international investors. CEZ was led higher following the Czech prime minister’s comments on new bidding toward energy-sector privatization (see below), while Philip Morris traded higher on no fundamental news. The session volume was below this year’s average and stood at USD 14.8 mil. Today, we are likely to see higher volumes as Wall Street returns to trading after a US holiday, and we expect investors to focus on domestic utilities, CEZ and Unipetrol.
(Milan Prochazka)