The PX-50 index closed up 0.5% in a quiet session with a lack of flows. The market has not been shaken by the current political changes in the CR so far. We continue to believe the only impact of the government changes is at Cesky Telecom, where privatization of the 51% stake is to be delayed by several months. The implications for the rest of the locally traded shares are negligible. Globally, the market will eye today's FOMC decision (due 20:15 CET), where a 25 bps hike is expected. The decision should have only limited, if any, impact for the local market. For today, we expect a narrow trading range with moderate volumes. Volume in the SPAD reached EUR 16.2m on Tuesday.
Milan Prochazka