The PX-50 index lost 0.65% yesterday on the SPAD volume of EUR 23.9m. The market was sold off after the announcement of a surprising rate hike of 25 bps; Komercni banka was most sensitive, erasing all its gains after this announcement. KB was also the most actively traded stock yesterday. Cesky Telecom approved a dividend of CZK 17 per share as expected; the stock saw only very limited interest yesterday and closed down 0.6%. Esrte Bank lost 2.0% mainly due to the sharp rise in the Czech currency after the rate hike. For today, we expect sideways trading with some downside risk as investors might be closing their positions ahead of the weekend.
Silvio Kotarac