The PX-50 index lost 0.73% to 464.1 points on Friday, as both Cesky Telecom and Komercni banka weakened. Komercni banka, the volume leader, lost more than 1.6% to CZK 1,865; foreign sellers were primarily behind the weakening. On the other hand, Unipetrol rallied considerably, up more than 4% to CZK 40.25, as local investors continued to speculate that the Czech chemical group Agrofert, the winning bidder in the Unipetrol privatization, will drop out of the tender - we see this as unlikely as Agrofert’s CEO recently reiterated the company’s interest in completing the acquisition. Friday’s volume in Unipetrol was heavy, exceeding USD 4 mil. The total market volume reached USD 24.7 mil. For today, Unipetrol will be the prime focus again, we expect a correction. Market activity will be light as U.S. markets are closed today due to a national holiday.
Changes in the trading in SPAD effective today, May 27:
* KOMERCNI BANKA - new lot size: 2,000 shares (previously 3,000), spread unchanged;
* UNIPETROL - new lot size: 50,000 shares (previously 20,000), spread unchanged;
* CESKA SPORITELNA - new spread: CZK 8 (previously CZK 6).
(Milan Prochazka)