The PX-50 index gained 1.38% to 454.6 points yesterday, as the market continued to thrive on speculation that Cesky Telecom’s privatization would be canceled, which would benefit minority shareholders. Cesky Telecom stock shot up 6.1% on a good volume in the SPAD of USD 6.20 mil., well demanded from both domestic and international accounts. Komercni banka closed up 1.0%, the stock was offered largely from abroad. Unipetrol gained over 4% to top CZK 35. Volume in the SPAD trading system reached USD 22.7 mil., above the 12M average. Today the market will likely open stronger after the Dow closed at a 3-month high last evening in New York; however, we expect profit taking here toward the end of the session.
Milan Prochazka