The main names drifted lower on a thin volume yesterday, only Erste Bank continued its strong performance (+1.17%)

The PX-50 index closed up 0.07% at 748.6 points on Monday, with volumes falling substantially compared to last week (the US market was closed on Monday) and therefore main names drifted lower on a thin volume. Only Erste Bank continued with strong performance as it added a further 1.17%. Unipetrol was down on rumors (unconfirmed) that the sale of the government-held stake may be postponed. But until we hear this information from official sources, we refuse to elaborate on these speculations. Komercni banka consolidated around CZK 2,800 and even saw small buyers in the afternoon. We believe the market will continue in its upward trend in the near term. Volume in the SPAD trading systém reached USD 28.4m.

Milan Procházka, Patria Finance