The PX-50 index lost 0.5% to 437.6 points on Thursday. The market was down as European economic data are mixed and growth prospects uncertain. Philip Morris CR rose yesterday by 2.7% despite the government’s announcement of a considerable excise-tax hike; several large buying orders accounted for the gain. Cesky Telecom was under pressure as foreign accounts were selling off, yet only USD 2.9 mil. worth of shares changed hands. Volume in the SPAD reached USD 14.88 mil. Today, the market will likely continue to weaken after US equities closed deep in the red yesterday and as we expect little domestic news flow.
(Milan Prochazka)