The Prague Stock Exchange performed well last week, with the PX-50 index gaining 1.7% and closing the week at 624.5 points. The PX-D index added 1.6% on the week and closed Friday at 1,544.5 points. Almost all Czech blue chips closed the week stronger; the only exception being Erste Bank, which saw mild profit taking and lost 0.9% to CZK 2,945. The best performing stock last week was Komercni banka (+6.7%). Ceske radiokomunikace added 4.6% to CZK 344. Cesky Telecom rose by 2.1% to CZK 277.7 as TDC announced last week it was interested in the state's 51% stake in Cesky Telecom. We expect that Cesky Telecom will continue to trade on the upside with more buyers attracted by any talks regarding privatization. CEZ gained 1.0%, and Unipetrol and Philip Morris CR rose by 0.8% and 0.7%, respectively.
Cesky Telecom was the most actively traded stock last week (USD 124.4m), when total traded volume on the PSE reached USD 259.8m, 35% above the average 12M weekly volume of USD 193.0m.