Investors focused on Cesky Telecom yesterday, Ceske radio in spotlight today

The PX-50 index lost 0.37% to 536.8 points on Thursday. Cesky Telecom was in the hot seat as sellers sent the stock down by 2.5% to CZK 271 on no apparent news. Komercni banka traded at CZK 2,015 yesterday, up 0.35% after a broker’s upgrade. CEZ was once again under selling pressure from international accounts, though domestic demand helped keep the stock above CZK 106. Today, we expect that Ceske radiokomunikace will open stronger as a controlling shareholder in the company will reportedly make a voluntary buy-out offer at CZK 245 (the stock closed yesterday at CZK 235); we expect that minority shareholders will seek a higher buy-out price and that this could push the stock price well above CZK 245 in the near term. Volume in SPAD trading system reached USD 31.91mil. yesterday.

Milan Prochazka