Index PX-50 gained 1.48% to 335.40 points. Ceska sporitelna shares recorded once again the heaviest volume as couple of foreign buyers were active on the market. Cesky Telecom gained 1.75% to CZK 200.10 as its closing price. Despite the US-related uncertainty, we still see foreign institutionals on the buy side. We are likely to see further recovery of the stock today. Komercni traded nervously, everybody tries to foresee its direction after reports of Societe Generale seeking to reduce the privatization price (see below), but we do not see much of a downisde risks in the near term. CEZ was stronger too, it added 1.12% but its volume was low, only 685,000 shares changed hands. Total market volume reached USD 15.60 mil. on Thursday.
(Milan Prochazka)