The PX-50 index gained 1.86% yesterday, as gains were realized virtually across the entire market. Though Cesky Telecom corrected slightly toward the end of the session (we believe the flow originated from day-traders’ books), demand was strong the entire day. Cesky Telecom peaked at CZK 347.30, and CEZ traded as high as CZK 80.99. For today, global markets are likely to rally again, and Prague should be close behind. However, the question is, how the market will digest today’s report on expected privatization proceeds from the Cesky Telecom sale. Total volume yesterday reached USD 24.03 mil.
(Milan Prochazka)