The headline PX-50 index increased by 2.3% to 792 points (its new long-term high); the blue chip PX-D index closed Friday at 1,976.1 points, up 3.1%. All Czech blue chips saw their prices rise, with Philip Morris CR being the gainer of the week (+9.6%) as investors were piling up the stock ahead of April 1, when local pension funds will be allowed to buy into the stock.
České radiokomunikace rose by 6.4% to CZK 432, as the market waits for the FY 2003 results of T-Mobile CR (39%-owned by Cra) that are to be released this week. Erste Bank also outperformed the market, adding 3.1% to CZK 3,793; the stock traded in line with strong sentiment regarding the European banking sector. Cesky Telecom gained 2.4% to CZK 336.4 and was the most traded stock last week (USD 147m). CEZ added 2.3% to CZK 183, supported by positive company comments on the electricity sales outlook for 2004. Komercni banka rose by 2.3% to CZK 2,988 on the back of no significant news. Unipetrol remained in positive territory as well, but added less than 1%.
The overall traded volume last week was USD 421.9m (85% above the 12M weekly average of USD 228.6m).
Jitka Oppitzová, Patria Finance