The Prague Stock Exchange continued to strengthen last week, with the headline PX-50 index rising 1.6%, closing at 850.2 points on Friday, and the blue chip PX-D index closing at 2,139.8 points, up 1.9%. Almost all Czech blue chips saw their prices rise last week with CEZ being the only exception. Its stock lost 0.4% of its value on a sizeable volume as comments on a possible floating of the state’s 16% stake occurred again.
Investors last week mostly focused on Komercni banka, which added 4.7% and was the most traded stock (USD 110m). Unipetrol also recorded strong gains (+4.7%), and in coming days we expect news related to the privatization. Cesky Telecom gained 2.1% on the week and closed Friday at CZK 351.3 supported by expectations of attractive dividends. Ceske radiokomunikace and Erste Bank rose by 2.0% and 1.4% respectively. Philip Morris CR added only 1%. The overall traded volume last week reached USD 358m (40% above the 12M weekly average of USD 257m).
Jitka Oppitzová, Patria Finance