The PX-50 index closed down 2.48% to 397.6 points on Friday as investors started massively selling CEZ shares. CEZ closed down 6.40% at CZK 71.39 following reports that Electricite de France was no longer interested in buying CEZ. Volume in the title was heavy, led primarily by foreign accounts. This panic pulled down Cesky Telecom shares as well, which closed below CZK 300 (CZK 294.40), down 4.42%. We believe that most of the sellers in Cesky Telecom were domestic. Unipetrol was under continued selling pressure and traded below CZK 30. Total market volume reached USD 19.2 mil. For today, we expect a rather quiet session as US markets are closed for the President’s Day holiday.
(Dana Bebrova)