Index PX-50 dropped 1.01% to 608,9 points on Friday. CEZ, Komercni banka and Philip Morris CR were sold off by both domestic as well as international accounts, no local news occurred and most of activity was driven by the sentiment on pan-European and US bourses. Cesky Telecom came back to CZK 280 on a thin volume. We expect stock will trade in CZK 270-280 range over next couple of months until TelSource announces further details of its offer and then afterwards certainly depending on the success of the placement. Survival of the Czech Cabinet after a No-Confidence Vote in the Parliament had not been reflected on the market. Volume in SPAD reached USD 21.90 mil.
Milan Procházka