The Czech market corrected strong gains made last week as index PX-50 fell 0.65% to 476.3 points on Monday. Komercni banka was once again a volume leader - investors` interest was obvious on both sides, but we did witness more sellers however. Stock closed almost unchanged at CZK 1,919, the intraday high was at CZK 1,953 per share. CEZ traded slightly weaker (-0,4%); most of the volume was generated at CZK 98,50 level on a single foreign buyer present on the market. Other names traded sideways with no particular volatility. Total volume reached USD 40.3 mil. For today, we are likely to open with some mild gains, we continue to lack domestic news. We expect Cesky Telecom and CEZ to trade on the upside.
(Milan Prochazka)