The PX-50 index gained 1.24% to 440 points on Wednesday, as local demand pushed Cesky Telecom shares higher. The stock added 2.64% to CZK 350.30. Komercni banka traded as low as CZK 1,403 early on yesterday, and was offered by foreign accounts throughout the day, with speculative intra-day positions in the stock observed. The total market volume reached USD 21.7 mil. We believe Cesky Telecom and the banks will come off further today after the weak US close and given a lack of domestic stimuli.
(Milan Prochazka)