Prague gained 1.36% to 433.70 (PX-50 index) yesterday. Cesky Telecom led the gainers, rising strongly in the afternoon hours, as US markets enjoyed a technical rebound. There was no local news related to Cesky Telecom that would explain the late gain. CEZ approved a CZK 2 per-share gross dividend (record date June 13). There has been a buyer of the stock, however, we feel that with the negative news flow related to CEZ and the domestic power sector, the stock may be vulnerable to further downward pressure. The total volume reached USD 10.57 mil. on Tuesday.
(Milan Procházka)