Komercni banka shot up more than 8% to CZK 1,650 after it reported H1 figures well above market expectations. We believe a number of investors covered short positions in the stock yesterday. CEZ and Cesky Telecom rallied toward the end of the session. Volumes also increased substantially toward the end of the session, perhaps due to late window dressing by investors closing out the month. Total volume on the SPAD was USD 35.60 mil.
(Milan Procházka)