The PX-50 index lost 1.44% to 334.70 yesterday, with Cesky Telecom and CEZ leading the decliners. Both stocks traded in good volume, with more than 800,000 shares changing hands in Cesky Telecom, and the volume in CEZ exceeded 2 mil. shares. Interest of foreign accounts was apparent. CEZ reached a its new short-term low at CZK 57.82. Cesky Telecom, on the other hand, remained strong and did not trade below CZK 235. Overall volume totaled USD 11.5 mil. on Wednesday. For today, Prague is likely to follow the strength of the US markets, which closed ahead yesterday, and we believe that Cesky Telecom, CEZ and possibly Komercni are set to gain today.
(Milan Prochazka)