The PX-50 index lost 0.93% to 415.4 points yesterday. Prague was led lower by losses on major European bourses. Komercni banka faced a substantial correction as mainly local brokers took profits or even, we believe, opened short positions. The stock lost 2.98% to close at CZK 1,236. Ceska sporitelna lost 0.74% to CZK 323.50. Total market volume was USD 21.20 mil. For today, we expect the market to respond to yesterday’s upward correction in the US and re-gain strength.
(Milan Prochazka)