Monday's activity was marked by an increased level of trading in Cesky Telecom after the company said it may pay up to CZK 6.6bn in dividends for last year. The stock saw some speculative inflow of money after the news. Simultaneously, local investors seem to be switching into Cesky Telecom from Philip Morris CR and Ceske radiokomunikace: both saw a fall of more than 5% yesterday. Komercni banka continues to be well bid, and we expect buyers to again make themselves evident in Cesky Telecom; the stock should gradually move higher toward the CZK 330 level. The PX-50 index dropped 0.10% to 812.7 points, with a volume of EUR 38.5m in the SPAD trading system.
Milan Procházka, Patria Finance