The PX-50 index lost 0.3% of its value on Friday to close at 476.8 points. CEZ was the most actively traded stock after a Czech daily reported that the Anti-Monopoly Office might dispute the price CEZ is to pay for stakes in eight regional electricity distributors (see below). CEZ traded as low as CZK 89.40, but it managed to erase some of its morning losses in the afternoon. Other names traded in positive territory; investors seem to believe that war in Iraq is not imminent, which is stock-positive news. For today, we expect increased trading activity from local brokers (despite the fact that US markets are closed for a state holiday today) as a reflection of a relief-rally that might be forthcoming on western markets. Volume in the SPAD system reached USD 20.02 mil. on Friday.
Milan Prochazka