The PX-50 index lost 2.16% yesterday, led down again by Erste Bank, which lost 4.8% on the day. Erste is the PSE’s largest loser since it began trading on the bourse one week ago. Cesky Telecom and Ceske radio were both under sentiment-driven pressure. The overall volume reached USD 18.87 mil. Today, the worsened performance of US markets last evening won’t inspire much confidence in equity investors here or in the rest of Europe, we believe. However, we will closely watch trading in Erste Bank today following a SEC ruling yesterday which may result in greater interest in the stock (see below).
Milan Prochazka