The PX-50 index declined 1.75% to 443.8 on Monday, with volume in the SPAD lower than average at USD 10.25 mil. Komercni banka was among the most actively traded names yesterday, though it lost almost 3% to CZK 1,614 on foreign selling. Local stop-loss trades contributed to the stock’s weakness. CEZ closed down 2.3% to CZK 92.70, with foreign supply again behind the weakness. For today, US markets resume trading after yesterday’s Labor Day holiday in North America, and we expect cautious trading in Europe.
(Milan Procházka)