The index gained 1.49% to 583.90 points on a strong volume in excess of USD 39 mil. in the SPAD trading system. Philip Morris CR led the leaders, rising 3.24%; Komercni banka traded higher with much intra-day volatility, trading in a range of CZK 2,122-2,200; and CEZ rose 1.50%. Erste Bank also continued to rise and added a further 3% in local trading yesterday (the stock is also listed on the Vienna bourse). Cesky Telecom seems to be slowly but surely moving to top the resistence at CZK 280; though some investors still fear a stock overhang, we recommend the stock from a fundamental point of view.
Milan Procházka