The PX-50 index gained 1.16% to 391 on Thursday. Cesky Telecom was among the top gainers, it added 2.58% after both the Bank of England and the ECB lowered key interest rates by 50 bps. Large international accounts were present on the market throughout the day. Philip Morris CR aroused interest, too; it gained 2.67% to CZK 7,075. The market is still speculating toward a Philip Morris CR buy-out offer, as has been speculated since the early summer, though denied by Philip Morris CR. For today, we believe the market will erase some of its gains, this holds especially for Cesky Telecom and Ceske radio. Total volume reached USD 13.0 mil. yesterday.
(Milan Prochazka)