The PX-50 index closed down some 0.16% to 504.7 points on Tuesday. We had expected a quiet and dull session and were proved right when only USD 5.82 mil. worth of shares changed hands. We would not draw any conclusions from yesterday's session, though. In fact, we remain bullish in the near term, expecting CEZ, Cesky Telecom and Unipetrol to see their prices rise; Komercni banka, on the other hand, seems to be fenced in the CZK 1,950-1,970 range and we see no major near-term growth catalyst for the stock.
Milan Procházka