The PX-50 index gained 1.85% to 429.5 points yesterday, when volume in the SPAD reached USD 15.26 mil. Much of the gain was attributable to Erste Bank, which rose more than 5% given the positive sentiment in the European banking sector. Komercni banka attracted local buyers only in adding 1.65% to CZK 1,724. Philip Morris CR remained under selling pressure as investors seem to favor Komercni and Erste stock; the cigarette maker lost 3% to CZK 11,211 yesterday. For today, we expect some profit taking, especially later in the afternoon.
Milan Prochazka