The Czech market has continued to strengthen, to 693.4 points, its highest level in 9 years. The PX-50 index gained 0.76% after Komercni banka and CEZ traded with positive returns. Both names approached important levels of resistance. Unipetrol was in the spotlight after the government narrowed the number of bidders for its 63% stake to three from the six expected. The share dropped 4.6% on the back of this news with the main selling coming from domestic retail accounts. We saw London and large domestic institutional investors on the buy side. Cesky Telecom was once again well offered as profit taking continues. For today, we expect the situation surrounding Unipetrol to be calmer, with investors waiting for further guidance regarding bidders and binding bids. Volume in the SPAD reached USD 25.8m.
Milan Procházka