The PX-50 index closed down 0.31% to 551.10 points on Tuesday. Activity was again light with central European markets drifting lower following the sentiment in western Europe. Komercni banka lost 0.9% of its value, and Cesky Telecom lost 0.8% to CZK 345. CEZ, however, added 1.1% after it announced BoD proposes CZK 4.50 per share dividend. Volume in the SPAD system reached USD 11.24 mil. yesterday. Despite the recent low demand for trading, we remain bullish on the domestic market. CEZ, Cesky Telecom and Komercni banka remain our recommended stocks in the near term. Philip Morris CR, Unipetrol and Erste Bank seem to be giving back some of their recent gains. Ceske radio will probably hold its current levels on low liquidity.
Milan Procházka