The PX-50 index closed down 0.5% yesterday, driven lower by further profit taking by investors on most stocks. Ceske radiokomunikace and Komercni banka were the only titles to advance. Komercni banka erased most of its early-morning losses in the afternoon and closed with a modest gain of 0.5%. It again was the most actively traded stock, accounting for 70% of the total volume in the SPAD trading system (USD 44 mil.). A major part of trading was related to the intra-day trading by market makers. CEZ closed down 0.5%, and Cesky Telecom lost 2.0% on light activity. For today, we expect to again start on a negative note, with little activity expected throughout the day. We expect Komercni banka to stabilize at its current price.
Silvio Kotarac