The PX-50 index yesterday remained under pressure from large index sellers, dropping 0.07% to 687.3 points on a broad market sell-off. CEZ especially was under strong pressure even from domestic accounts, with its stock dropping 1.01% in a heavy volume. Only Cesky Telecom resisted and traded up 0.14%, the demand originating from abroad - we saw large accounts on the buy side for the entire session. Its volume exceeded 1.5m shares, and should the current strong activity sustain its pace we are likely to see the stock above CZK 300 soon. Komercni banka did not manage to break through the CZK 2,600 resistance level, but still the stock is holding well and we believe it will test CZK 2,600 in the short term again. Volume in the SPAD reached USD 50.37m.
Milan Procházka