The PX-50 index went over the 400 level yesterday as it closed up 1.56% to 404.7 points. Strong international demand was behind the gain in Cesky Tel, when it added 3.7% to CZK 383.50. Flow in CEZ was strong too, coming primarily from abroad, and volume in the stock exceed USD 4.3 mil. Total market volume reached USD 17 mil. For today, we expect the market to correct slightly on the back of the US close; expect some profit taking to occur in Cesky Telecom.
(Milan Prochazka)