The PX-50 index was down 0.3% last week, closing Friday at 640.5 points (the blue-chip PX-D index closed Friday at 1,596.8, down 0.3%). Last week’s main gainer on the Czech equity market was Ceske radiokomunikace, which saw its stock price rise by 6.2% to CZK 325.5 following the announcement that the Danish telecoms company TDC had sold its 25% stake in Bivideon, its joint venture with Deutsche Bank and the majority owner of Ceske radiokomunikace, to Deutsche Bank. Ceske radiokomunikace’s trading volume was up 161% at USD 9.4m on the week. Erste Bank rose by 1.2% on the back of positive Q3 2003 results, reported on Thursday. Cesky Telecom rose a mere 0.1% to CZK 287.3.
All other blue chips closed down on the week, with Unipetrol down the most, losing 3.2% to CZK 58.7. Komercni banka lost 2.0% of its value, and CEZ was sent 1.9% lower after S&P downgraded its outlook for the company from positive to stable. Philip Morris CR lost 1.1% on the week, ending Friday at CZK 14,221.
Once again, Komercni banka accounted for the majority of trades last week, with USD 113.1m worth of its shares changing hands. The overall traded volume last week reached USD 264.8m, which was 46% above the 12M weekly average.