The PX-50 index lost 2.27% to 352.40 on Tuesday (a 29M low) as stop-loss sales hit Cesky Telecom, which lost 5.72% yesterday, trading as low as CZK 226.10 intra-day. CEZ followed the market down as well, losing 3.91% to CZK 73.65. Ceske radiokomunikace lost 0.59% to CZK 390.50. The news of the Finance Ministry seeking to have Ceske radio privatization addressed at today’s Cabinet weekly meeting came after the end of trading (see below). Total market volume reached USD 12.0 mil. on Tuesday. For today, we are likely to see further losses as major bourses weaken.
(Milan Prochazka)