The PX-50 index lost 0.82% to 445.1 points on Wednesday as European bourses plummeted to 5- and even 6- year lows. In Prague, domestic as well as international accounts heavily sold off Komercni banka and CEZ. Komercni fell 0.7% to CZK 1,682, and CEZ fell 1.9% to CZK 93.70. Volume in the SPAD totaled USD 9.29 mil. We believe today will be another day of declines across the Czech market, with Komercni banka and CEZ again the likely targets for sellers. Cesky Telecom held surprisingly firm yesterday, but it traded with only limited interest.
(Milan Prochazka)