The PX-50 index gained 1.23% to 404.7 despite losses on major European and US bourses. CEZ led the market in terms of total volume, and it rose 0.8% on quite a large but balanced flow of foreign buyers and sellers. Cesky Telecom stock, despite many sellers, gained 2.0%, pulled up by domestic demand, to as high as CZK 307, the stock was even bid for after the market close. However, we do not believe the buyers to be as aggressive buying the stock today as they were yesterday. Banking names continue to represent a safe heaven; Ceska sporitelna rose above CZK 350 (+1,6%) on foreign demand and the absence of any large seller. Komercni followed suit. Total market volume reached USD 13.74 mil. on Tuesday.
(Milan Prochazka)