The PX-50 index closed up 1.24% at 670.3 points as investors continued to build positions in domestic blue chips. Demand was obvious for all names with the exception of Ceske radiokomunikace shares. Komercni banka added 2.1% and broke the CZK 2,500 level; Cesky Telecom added 1.2% and CEZ strengthened by 1.3%. There was no relevant domestic news. The market continues to trade with a strong bullish sentiment and we still do not see any signs of a trend reversal. Some of the accounts gradually started taking profits (partially due to the CZK strength vs. USD) but the selling is far from strong. Cesky Telecom will be in spotlight today as the Cabinet should draw up a privatization plan today; we do not expect the news to impact the stock price, though. Volume in the SPAD trading system reached USD 34.5m.
Milan Procházka