A big deal and maybe even the release of announcement that the Board of
Directors of Ceske Radiokomunikace had proposed not to pay off dividend from
the last year net profit supported the koruna against the euro. The majority
in Ceske radiokomunikace is held by consortium Bivideon which was founded by
Deutsche Bank and Danish TDC. The koruna broke the level of stop-losses
under the EUR/CZK 30.400 and firmed as far as at 30.285. Today we expect,
that the koruna should slightly weaken due to profit taking, however we also
couldn't exclude possibility, that today's release of the date of payment
for Transgas and gas distributors should become an excuse for another
strengthening. We anticipate the EUR/CZK from 30.200 to 30.550 and the
USD/CZK from 33.100 to 33.700.
open max min cls open 16/5
EUR/CZK 30.500 30.510 30.285 30.300 30.340
USD/CZK 33.810 33.850 33.420 33.450 33.290
Stepanka Kuzilkova, CSOB Investment research