The PX-50 index gained 0.07% to 568.4 points on Wednesday, with volume in the SPAD system reaching average USD 16.38 mil. Komercni banka was the most actively traded stock once again as foreign accounts sold-off the stock late in the day. The stock continues to lack a catalyst, however, and it’s price will be static at best in the immediate term. Cesky Telecom traded at CZK 350 again yesterday, and the market today awaits news related to the Eurotel acquisition and possibly a dividend payment (see below). This set of news is crucial for further Cesky Telecom stock-price development; we expect a positive outcome and growth in price of the stock. Other names are likely to hold to the recent upward momentum. It is not yet time to take profits in Prague.
Milan Procházka