The headline PX-50 index rose 2.9% last week, closing at 837.0 points on Friday, with the blue chip PX-D index closing at 2,100.0 points, up 3.0%.
Cesky Telecom was at the center of investor interest, shooting up 6.5% and closing at CZK 344.0 supported by expectations of attractive dividends. Cesky Telecom was the most traded stock with USD 170.2m worth of its shares changing hands. Both CEZ and Erste Bank gained 3.1% on the week on no apparent news. Komercni banka continued to be well bid, gaining 2.8% to CZK 3,246. Other Czech blue chips traded lower. Philip Morris CR was the loser of the week (-3.7%) on the back of worse-than-expected FY2003 results. Ceske radikomunikace gave back 3.6% of its value and closed the week at CZK 483.8. Unipetrol lost 0.3% to CZK 64.25.
The overall traded volume last week reached USD 410m (61% above the 12M weekly average of USD 254m).
Jitka Oppitzová, Patria Finance