The PX-50 index closed down 0.40% to 850.2 points on Friday as the market slid into a holiday mood and traded on a thin volume. CEZ dropped 0.5% after an official from the governmental asset manager, NPF, backed plans to float a 16% stake via capital markets. Even though the market always seems to react with prudence to this news, it seems some market participants started pricing it in. Komercni banka sustained its CZK 3,400 level. In coming days we will await news related to the privatization of Unipetrol (binding bids). We believe the market will maintain its upward trend. Volume in the SPAD system reached USD 23.94m.
Milan Procházka, Patria Finance