The PX-50 index slid 0.67% to 620.6 points on Wednesday as Komercni banka extended its losses, falling 1.6% to CZK 2,330 despite the positive EU ruling related to bailouts. This news, however, has no material impact on the stock and traders decided to sell on it. No further catalyst seems to be on the horizon until year-end. Cesky Telecom dropped 1.2% on no news. CEZ traded in a descent volume exceeding 2m shares. The company announced it has submitted the appropriate documents to be allowed to bid for Bulgarian power distributors. We expect further narrow-range trading with average volume. Volume in the SPAD trading system reached USD 33.9m yesterday.
Milan Procházka