The PX-50 index shot up 2.5% yesterday, driven by KB and Ceske radiokomunikace

The headline PX-50 index shot up a dramatic 2.5% yesterday, driven by strong gains in Komercni banka and Ceske radiokomunikace. Komercni was again the most actively traded stock and rose 6.0% on aggressive foreign buying. Ceske radiokomunikace gained 4.4% and traded up to CZK 300 per share; the stock saw foreign demand again after a long time otherwise. Cesky Telecom gained 1.9% on a light volume. Given the recent robust rally of Komercni banka, we think investor focus will turn now to the other stocks, like Ceske radiokomunikace and Cesky Telecom. Overall, we expect the PX-50 index to remain in its positive trend. Volume in SPAD trading system was USD 40 mil. yesterday.

Silvio Kotarac