The PX-50 index gained 1.13% to 546.3 points on Wednesday and thus closed at a 31-month high. Erste Bank again contributed to most of the session’s gain, rising 4.9%, led higher by strong international demand. Komercni banka followed, adding over 1.6%. Philip Morris CR gave back 2.8% of its value after a recent rally. CEZ was essentially unchanged. Ceske radiokomunikace, up 1.6%, saw over 1% of its shares change hands yesterday as the stock was heavily bid by a single domestic account and simultaneously offered by a single international account (Ceske radiokomunikace’s 39%-owned subsidiary, the wireless operator T-Mobile CR, is to report its Q1 results today). We continue to believe share prices are likely to rise further, notwithstanding the occasional negative session. Volume in the SPAD system reached USD 20.53 mil. yesterday.
Milan Prochazka