The PX-50 index closed down 1.08% on Monday. After a sluggish opening the low activity continued until the passenger jet crash in New York initiated a sell-off across the market in the afternoon; Cesky Telecom dropped as low as CZK 305 in response to the news, but closed higher (CZK 316.80) as a terrorist attack was not confirmed in the plane incident. Komercni banka fell to CZK 949.90, and CEZ closed down at CZK 75.60. Total market volume reached USD 9.3 mil. For today, we believe that Europe markets will rebound and regain some of yesterday’s losses, likely pulling the Czech market up along with it.
(Milan Prochazka)