Index PX-50 added a further 1.25% to 479.4 on Friday. Gains were led by Komercni banka which added more than 3.4% to trade as high as CZK 1,921 per share on a larger than average volume of USD 17.2 mil. Demand originated from abroad as well as from domestic investors. Unipetrol traded as high as CZK 34.70 on local demand as some believe Czech chemical group Agrofert will not secure financing for acquisition and the sale will be reopened - but this is purely a speculation! Also, the tender by AVS for all outstanding Ceska sporitelna shares ended on Friday. Today, we are likely to start with a low volume as markets await US direction as usually happens on Mondays. But we believe a weaker trading session will take place today. Total volume reached USD 50.4 mil. on Friday.
(Milan Prochazka)