The PX-50 gained yesterday, ahead of today’s release of most SPAD-listed issues’ first-quarter results. Cesky Telecom again traded in a better-than-average volume, with more than USD 4.38 mil. shares traded yesterday. Komercni banka traded in a narrow range. Philip Morris CR (PM CR) lost over 3% when a domestic fund aggressively sold the stock, on no news though, we believe that PM CR’s stock price will rise, from trading point of view. Volume in the SPAD trading system reached USD 18.28 mil. yesterday.
For today, the market will be largely influenced by the earnings reports, with Komercni banka’s expected to be among the most influential. Should the results generally prove uninspiring, we would expect a calm session as the bourse in Prague and in several other central European markets will be closed for national holidays tomorrow, and U.K. markets will be closed on Monday, May 5.
Milan Prochazka
Note that stock exchanges in Prague, Budapest, and Warsaw will be closed tomorrow. The Budapest Stock Exchange will be closed also on May 2nd.