Komercni banka closed yesterday at its highest level since April 1997, CEZ results will be closely watched today

The PX-50 index added another 1% yesterday and closed at a level of 624.5 points, bettering last week’s series of three-year highs. The main market driver was Komercni banka, which gained 2.4% on ongoing foreign demand; the stock closed at its highest level since April 1997. CEZ gained 0.6% ahead of the release of its H1 IFRS results, which are due to be reported today at 10:00 CET. Other names were quiet, receiving only limited investor interest. Total volume on the SPAD trading system was below average at USD 14 mil. There seems to be little in the way that might detract from the current bullish sentiment in Prague, and we expect a positive session again today; Komercni banka will likely lead the gainers, and CEZ’s results will be closely watched by traders.

Silvio Kotarac