2.2% gain at PSE on Friday led by KB and Telecom

The PX-50 index gained 2.17% to 447.10 points on Friday. The gain was led by Komercni banka and Cesky Telecom. While sellers dominated the early hours of the session, buy orders flooded the market in the afternoon, finally pushing it up. However, we believe that most of the buying was investors covering short positions, and that natural buying was limited. Volume in the SPAD reached only USD 10.15 mil. For today, we expect that trading will begin quietly as investors will await trend indications from European and US markets, but that the market will close ahead.

Milan Prochazka