Czech equity market lost its breath after the US terrorist attacks yesterday

The PX-50 index shed 1.76% to 340 yesterday. The market lost its breath at the end of its session after the terrorist attacks in the US. Cesky Telecom touched its all-time low of CZK 210, down 2.50% on the day; however, selling of the stock was primarily led by local speculators and brokers rather than natural sellers. Unusually, Ceska sporitelna was the most traded stock of the day, thanks to large cross trades at the CZK 272 level. Total market volume reached USD 22.12 mil. on Tuesday.

Of the domestic stocks, Unipetrol should be the most sensitive to the events in the US. Should the attacks in the US cause a systematic oil-price increase, this could have a negative effect on Unipetrol’s performance. The whole market is likely to suffer though, as seen at the end of yesterday’s trading.

The Prague Stock Exchange has decided to postpone the beginning of equity trading today to 11:30 am CET.

(Milan Prochazka)