The PX-50 index closed sharply up (+2.82%) yesterday, to 416.1 points. The market rallied after foreign accounts began lifting Komercni banka and Cesky Telecom shares. Komercni banka rose 4.64% to close above CZK 1,300 and Cesky Telecom rose 5.34% to CZK 324. Ceska sporitelna also rose, up 2.41% to CZK 360.70; the buyers were primarily domestic. Total market volume reached USD 20.8 mil. For today, the market is likely to advance again after US markets’ closed in black figures last evening, though we believe the rally will ebb.
(Milan Prochazka)