The PX-50 index gained 1.07% to 434.7 yesterday. The gain was led by Komercni banka, which added 2.7% to CZK 1,734. The market seemed to have the Irish ratification of the Nice Treaty on the weekend already priced in on Monday, and the result did not stir the market. Trading here again seemed to be rather correlated with developments on European bourses. Other names traded largely sideways yesterday; of the gainers, CEZ rose 1.1%, and Philip Morris CR rose 0.5%. For today, we expect trading in positive territory once again following a couple of investment upgrades (including Patria’s) for Komercni banka stock, and given the positive closing levels of US indices last evening.
Milan Prochazka