The PX-50 index gained 2.27% to 423.3 points yesterday; volume in the SPAD reached USD 20.32 mil. Overall, the market gained on the back of sharp gains on US and European markets. Komercni banka was up sharply at 4.3% to CZK 1,689. Demand for the stock was strong, with a number of natural accounts among the active bidders. Cesky Telecom rose 3.2%, to CZK 239, as sentiment-driven buying flow and better-than-expected Q3 results yielded sustained interest in the stock. For today, we expect that the market will give up some of yesterday’s gains, as local investors may take profits; Komercni banka and Cesky Telecom could be likely targets of such profit takers.
Milan Prochazka