The Czech market underwent another day of weakness as it dropped 0.65%. Losers were once again led by Komercni banka and CEZ. Komercni banka lost 2.5% on massive international selling. KB stock continues to be punished after the bank reported weaker than expected Q1 results, however we are starting to look at KB more positively and expect no further fall in their stock price in coming days. CEZ bottomed at CZK 185.4, again as large orders hit the market, with more than 4m shares traded. The whole market continues to be in a fragile state. Volume in the SPAD system reached EUR 76.2m.
Milan Procházka, Patria Finance