The PX-50 index gained a light 0.43% to 440.10 points on Tuesday despite the strong late-afternoon rally of European markets and buoyant markets in the US. Komercni banka traded in a volatile range of CZK 1,605-1,660 though in good volume, most of which generated by foreign institutions. Philip Morris CR was under downward pressure, losing 2.34% of its value on the day--we believe investors are switching away from the defensive tobacco sector, and are favoring equities such as CEZ and Komercni instead. Total volume on the SPAD reached USD 18.50 mil. Yesterday.
Milan Prochazka