Bidding for shares in Komercni banka, CEZ, České radiokomunikace and Cesky Telecom remained strong throughout the day; the main titles posted gains of more than 5%. Trading volumes were higher than average. The market was upbeat because the major pan-European markets had shrugged off some of their recent weakness; therefore we continue to be driven by sentiment rather than value-hunting. As we mentioned yesterday, we are currently through in the tough traders’ market; substantial volatility will be present in the upcoming weeks. Local investors are likely to open more long positions in CEZ and Cesky Telecom as dividend announcements draw near (ahead of the respective companies’ AGMs). Trading volume in the SPAD systém came to EUR 61.4m.
Milan Procházka