The PX-50 Index gained 0.36% to 507.70 points on Tuesday, in which the volume reached a sessional-average USD 15.93 mil., the top three volume leaders exceeding USD 3 mil. in volume in the SPAD trading segment. This is positive and should such volumes continue we would continue to be bullish from a trading perspective. Erste Bank reached a new high at CZK 2,316 in Prague yesterday (EUR 74 in Vienna); the stock was well bid with large buy orders from London investors. CEZ rose above the CZK 100 level. For today, we expect that Prague will seek its own direction once again, aside internatioanl bourses, and we expect that CEZ, Komercni, Unipetrol should see prices rise, with Ceske radio and Cesky Tel likely to stay unchanged, and Erste seems to be ripe for some selling short (though we believe the stock is still undervalued from a fundamental perspective).
Milan Procházka