The PX-50 index lost 1.98% to 416.60 points Wednesday, affected by sharp losses in CEZ. CEZ lost 4.23% to CZK 91.60 after consecutive days of sustained foreign selling; local investors joined the fray and stop-lossed their positions in CEZ. Komercni traded erratically once again, ahead of tomorrow’s extraordinary Cabinet meeting, but remained below the CZK 1,100 level; it was the most actively traded stock in Prague, with more than 166,000 shares changing hands. Cesky Telecom lost 3.12% on a low volume of only 69,120 shares as the market awaits the US Fed’s decision on interest rates and its economic prognosis later today. Total market volume reached USD 14.42 mil. yesterday. We expect Komercni to be the main focus of trading again today, and CEZ to possibly face continued downward pressure. Cesky Tel, again, will be aside any major interest.
(Milan Procházka)