The PX-50 index lost 2.4% to 532.4 points yesterday. The decline was rather technical in nature as Cesky Telecom began trading ex-dividend yesterday and, as a result, its stock price fell by 13.5% to CZK 286.3. Adjusted for the dividend, the stock traded higher. Other titles traded on a quiet note, with no particular or sizable flows. In the coming days, we expect trading activity in Ceske radiokomunikace to step up as a minority shareholder has asked the company’s board of directors to call an EGM (see below). Yesterday’s unexpected 25 bps interest-rate cut by the Czech National Bank could have marginally negative implications for Komercni banka stock. Volume in the SPAD trading system reached USD 10.28 mil. yesterday.
Milan Procházka