The PX-50 index closed down 0.07% to 535.1 points yesterday. CEZ lost 2.9% on media reports that the government is considering floating 16.6% (app. 100 mil. shares) of the power company’s shares by year-end (the state is a 68% equity stakeholder in CEZ). Philip Morris CR rose 2.9% to CZK 13,500 on no apparent news, the gain partly due to a short squeeze. CEZ seems to be the only domestic equity with news flow, which may weigh on its stock price; in the long run, however, we remain positive on CEZ stock. Volume in the SPAD trading system reached USD 14.99 mil. on Monday.
Milan Prochazka