The PX-50 Index lost 1.31% to 406.2 points on Monday, as Europe digested Friday’s weakness of the US markets after Greenspan´s speech. The decline was led by Ceske radiokomunikace, which lost almost 4% on foreign selling. Cesky Telecom was the most heavily traded name with volume exceeding USD 5 mil. and closing price of CZK 366.30. Although it lost 1.21%, the stock was demanded from abroad. Total volume dropped to USD 12.9 mil. For today, we expect further easing of the market, we believe Komercni banka lost its short-term upward momentum and could decline further.
(Milan Prochazka)