The PX-50 index lost 0.44% of its value on Friday, led down by weakness in Cesky Telecom following the company reported worse-than-expected 2002 earnings on Thursday. Komercni, CEZ, and Ceske radiokomunikace all reported 2002 earnings on Friday. There may be increased activity on the part of brokers this week in reaction to the corporate earnings, but we do not expect increased volatility. Prague is likely to rise as tensions related to Iraq seem to ebb once more. Volume in the SPAD system reached USD 17.24 mil. on Friday.
Milan Procházka