The PX-50 Index lost 0.73% to 367.90 points on Thursday as global market sentiment darkened after the ECB, citing concern about slower economic growth in Europe, cut its benchmark interest rates. Total volume was weak again, only USD 10.63 mil., and real volume represented only three-quarters of that. Despite the depressed volume, volatility was not high during the session. Cesky telecom closed positively, up 0.87%, to CZK 266.80. Decliners were led by Komercni, down 0.77% to CZK 953, with only 62,000 shares traded. Given poor US market closings and an upcoming long weekend there (Labor Day on Monday), we expect the weakness here to continue, along with depressed volumes.
(Jiri Soustruznik)