Prices on the Prague Stock Exchange continued to fall last week

The only title to strengthen last week was Unipetrol, which gained 1.7% to CZK 59.7 on news of increased investor interest in its privatization. Nine firms have reportedly expressed preliminary interest in the tender sale of the state’s 63% stake in the petrochemical holding. The stock will continue to be driven by privatization-related news in the near future.

Komercni banka led the decliners last week, losing 4.8% to CZK 2,284 on what appeared to be sentiment-driven selling, followed by Cesky Telecom, which closed the week below the CZK 280 level at CZK 276.5, a loss of 3.8%. CEZ lost 3.5% on an above-average volume of USD 33.5m. Ceske radiokomunikace gave back 2.4% of its value and closed Friday at CZK 317.6. Erste Bank and Philip Morris CR lost 2.1% and 0.4%, respectively.

Komercni banka was again the most traded stock last week (USD 56.3m), when total traded volume on the PSE reached USD 156.3m, which was 7% above the average 12M weekly volume of USD 146.0m.

As for this week, Czech foreign-trade data for October is due to be released tomorrow, and CEZ is expected to report its 9M 2003 consolidated figures by the end of the week.

Jitka Oppitzová