Equity trading in Prague last week was driven mostly by CEZ and Komercni banka, which together made up 57% of the PSE’s equity volume of USD 131.7 mil. Volume was 44% above the 12M weekly average, although Wednesday, May 8, was a public holiday in the Czech Republic.
The PX-50 index was up 3.9%, closing at 479.4 points (a 15M high) on Friday. The PX-D index closed at 1,300.7 points, up 4.9%. CEZ added 9.3% last week, with the combined interest of both domestic and international accounts pushing the stock to an 11M high of CZK 98.64. Komercni banka rose 5.6% to close on Friday at CZK 1,920 (a high not seen since April 1997). The top gainer last week was Unipetrol, however, which gained 13.7% and finished the week at CZK 33.87, as speculations appeared that Czech chemical group Agrofert will not secure financing for acquisition and the sale will be reopened. Cesky Telecom gained 3.9% on the week, trading at Friday’s close at CZK 348.50. Philip Morris CR also gained a strong 9.9% to CZK 9,169 (the highest price since March 1998).
This week, Ceske radiokomunikace will hold an AGM on Wednesday, May 15. On Monday, May 20, CEZ will hold an EGM, where the Czech energy-sector restructuring plan should be approved.
(Jan Hajek)