The PX-50 index added a further 1.26% to 521.30 points yesterday. Cesky Telecom, a stock we recommend buying, gained 1.79% to CZK 325 on strong international demand; the stock price has risen by more than 31% year to date, and we see room for further appreciation. CEZ added 1.40% to CZK 106, a 52-week high. The domestic equity market is generally in rather good condition--it has appreciated by some 13% since the beginning of the year--and is still set to grow, we believe. Volume in the SPAD trading system reached USD 17.05 mil. yesterday, somewhat above this year’s average volume.
Note that this week several national holidays in central Europe will see stock exchanges in Prague and Warsaw closed on May 1st, and the Budapest Stock Exchange will be closed on May 1st and 2nd.
Milan Prochazka