The PX-50 index continued strengthening on Tuesday, rising 0.42% to 449.0 points. The market was led upward by the strong foreign demand for Philip Morris CR shares, which added almost 5% to CZK 7,951, and for Cesky Telecom, which closed 1.98% stronger on the positive international sentiment toward telecoms. Komerční banka shares went against the otherwise positive trend and lost 2.19% amid profit taking. Ceska sporitelna was largely even at 0.1%, to CZK 375.5, after Ceska pojistovna insurance company (holding 4.5% of CS stock) announced that it rejected AVS's buyback offer for CS shares. The total market volume reached USD 47.4 mil.
(Dana Bebrova)