The PX-50 index closed up 0.59% after a quiet but volatile session. An initial sell off in Komercni banka in the morning hours turned into a decent rally led by international demand. CEZ also seems to be back close to the CZK 190 level driven by domestic demand. Cesky Telecom traded toward the CZK 350 level but managed to sustain support at this level. In coming days the market will continue to be sentiment driven; we do not see any opportunity for value-hunting investors at the current levels. Focus remains on Unipetrol as a privatization news flow nears; Komercni banka and Cesky Telecom will dominate in terms of traded volume. Volume in the SPAD system reached USD 39.97m.
Milan Procházka, Patria Finance