The PX-50 index lost 0.75% yesterday to close at 476.8 points. As we had expected yesterday, Czech market once again proved its defensiveness and volatility was again low. While pan-European markets suffered deep losses and as peer bourses in Hungary and Poland were down considerably as well, the Czech market fared relatively well. Komercni banka was the top loser here yesterday, giving up 1.1% of its value, though the traded volume was quite low at only USD 4.7 mil. Volume in the SPAD system reached USD 11.97 mil. yesterday. In domestic corporate news, investors await an Anti-Monopoly Office decision that could have affect the merger of CEZ and regional power distributors, and the corporate reporting season beings tomorrow with Cesky Telecom and Unipetrol due to release their 2002 earnings figures.
Milan Procházka