Overall, a bullish party continued as all Czech blue chips were taken up in an aggressive shopping spree yesterday. The PX-50 index gained 2.41% to 811.1 points. CEZ was mostly demanded by local investors pushing the stock into unseen territories. Philip Morris CR continued rise on the back of the pension fund regulatory story (PFs will be allowed to buy the stock from April 1). We are starting to see difficulties in offloading some of the domestic names, as buyers tend to step back if they see any form of supply. This was felt primarily in Cesky Telecom in the late afternoon yesterday. For today, we expect a downward correction to occur. Volume in the SPAD trading systém reached USD 52m.
Milan Procházka, Patria Finance