The PX-50 index gained 1.98% to 448.4 as fresh money hit the market. Cesky Telecom and CEZ were the main beneficiaries of this; Cesky Telecom gained as much as 4.36%, to CZK 335. Komercni banka soared again to CZK 1,740 levels, led by local institutional demand. Good volume seen in Ceska sporitelna was due to trades related to the AVS tender offer. The total market volume reached USD 73.7 mil. For today, we expect the market to ease off and to give back some of the recent gains, and further, we believe that Komercni banka might the top loser on the market today.
(Milan Prochazka)