PX-50 index closed down on Tuesday, led by CEZ

The PX-50 index closed down 0.69% to 434.6 points on Tuesday as the market continued to surrender some of last week’s gains. CEZ lost 3.6% to CZK 79 as foreign and large domestic funds sold-off positions. Cesky Telecom was under domestic pressure but the stock was simultaneously well demanded from abroad. The market session basically copied yesterday’s developments on the major European bourses. Total volume reached USD 23.7 mil. For today, the market is likely to continue trading in slightly negative territory; we expect banks to remain under pressure.

(Milan Prochazka)