The PX-50 index fell by 0.10% to 477.70 points yesterday despite substantial rallies on peer markets in Poland and Hungary. Prague essentially lacked domestic corporate news. Philip Morris CR saw its recent rally checked and gave back 2.38% of its value, closing at CZK 11,915. Komercni banka continues to suffer, down yesterday by 1.48%; we believe local investors are still long in expectation of a price rally, but there were no signs of any strength yesterday. We believe Prague will be narrowly lower today, with a lack of domestic inputs. Volume in the SPAD system reached USD 19.05 mil. yesterday.
Milan Procházka