The PX-50 index gained modestly yesterday, up 0.24% to 382.30. The strength was led by Cesky Telecom, which added 2.86% to CZK 305.50, in a low-volume trading where only 121,000 Cesky Telecom shares were traded. CEZ was the most actively traded name—over 1.2 mil. shares changed hands—the stock lost 1.47% to CZK 76.94. Overall, trading was quiet with an absence of international accounts; total volume reached USD 8.17 mil. For today, the market is likely to continue trading on a positive note, particularly after comments this morning by the deputy finance minister regarding Cesky Telecom’s Eurotel acquisition (see below). The US FOMC meets today, it seems that the market expects positive news only.
(Milan Prochazka)