The PX-50 index continued losing ground on Monday as it shed a further 1.11% to 346.10. Cesky Telecom approached its all-time low of CZK 212.50 as Europe suffered from further weakness. Other names followed suit: CEZ closed down 2.14%, to CZK 73.09, and Ceske radiokomunikace sank below CZK 300, to CZK 297.80. Total market volume reached USD 7.2 mil. on Monday. Further developments today will depend on events in Europe and the US, as we do not foresee any domestic news that could cause a local turnaround without Europe and US recovering.
(Milan Prochazka)