The PX-50 index gained 1.3% to 644.9 points yesterday. Buyers stepped back into Komercni banka, CEZ and Cesky Telecom. Cesky Telecom added 2.8%, nudging past the CZK 285 level. We reiterate our positive fundamental view on the stock; however, the pending 27% public offering of by minority shareholder TelSource still weighs on it. Volume in the SPAD trading system was an average USD 24.64m on Monday.
Milan Procházka