The PX-50 index lost 0.79% on Friday to 325.2 points. Unipetrol was the session’s main loser, as it fell 5.95% to CZK 42.50. The title’s decline was not based on any fundamental news, but rather on low liquidity; only 426.000 shares changed hands. Cesky Telecom lost 2.00% to CZK 195.75, where a number of large account buyers were evident on the market despite the weakness of European bourses. Philip Morris CR, formerly Tabak, gained a 2.06%, to CZK 6,528, as the stock represents defensive value to some investors as it is not exposed to growth or political concerns. Total market volume reached USD 14.3 mil. on Friday. For today, the Czech market will likely watch early trading in Europe for direction. Also, we expect further buying in Cesky Telecom.
(Milan Prochazka)