The PX-50 index gained 0.85% to 568 points yesterday. Ceske radiokomunikace shares were in the spotlight again as the stock posted another strong gain, rising 8%. Still, there was no apparent news or stimuli, and domestic accounts dominated both the buy and sell sides. CEZ retains its good momentum and is poised to rise further, we believe, though its price may be negatively influenced today by the reports of a failed minority-stakes swap with the German E.ON concerning domestic power distributors; this, however, is no reason for a sell-off. Cesky Telecom traded again around CZK 350, at which price both domestic and international accounts are active. Cesky Telecom, CEZ and Unipetrol remain our near-term preferred picks. Volume in SPAD trading system reached USD 17.56 mil. yesterday.
Milan Procházka