The PX-50 index fell by 0.29% to 624 points on Friday. The weakness of the Czech market followed a recent sell-off of Hungarian assets after the Hungarian central bank raised its key interest rates by 300 bps. CEZ reported in-line results on Friday (9M consolidated), but the stock was well offered by international investors and it lost 1.1%. We expect investors in Prague to continue locking up profits as the year-end approaches, and as for individual titles, Unipetrol is likely to react to any privatization-related news in the immediate. Volume in the SPAD trading system reached USD 21.05m on Friday.
Milan Procházka