The PX-50 index lost 0.71% to 351.90 on Thursday. The decline was led by Ceske radio, as expected; it lost 15.77% to CZK 326.40 after the Czech Cabinet approved the sale of the majority stake in the company to a TDC/Deutsche Bank consortium for a lower-than-expected price. The other telecom, Cesky Telecom, followed its peers on major bourses and closed down 2.60%, at CZK 232. Two banking names, Komercni banka and Ceska sporitelna, posted healthy gains (Komercni up 1.54% to CZK 964.60, and Ceska sporitelna up 2.66% to CZK 270.10). The two followed the strength in other emerging-market banking stocks yesterday (e.g., OTP in Hungary), it seems that there may be a strong buyer in the sector. Total volume stood at USD 17.42 mil. yesterday.
(Milan Prochazka)