The PX-50 index gained strongly on Monday, rising 2.02% to 439.50 points, primarily but not exclusively due to mighty gains in Cesky Telecom, which added 5.69% to CZK 390.30 after reports the company might be close to acquiring full control over its highly profitable wireless business (Eurotel, in which it already owns 51%). Komercni banka also helped to pull the index higher, gaining 2.36% to CZK 1,128. Although KB’s gains were driven by domestic investors, we expect further gains as the KB privatization tender nears completion (end of June). Other names traded quietly, with no particular interest or major deal flow. Total volume reached USD 14.3 mil. on Monday.
(Milan Procházka)