The PX-50 index fell by 1.11% to 426.50 points in Prague on Wednesday as Ceske radio lost more than 4.86% to CZK 558.10 after a single seller aggressively hit market. Komercni banka also led the market down, losing 4.62% to CZK 1,095 with a number of strong international accounts collecting profits; more than 240,000 of its shares changed hands. Other names moved sideways. Cesky telecom seems to have good support at levels around CZK 360. For today, we believe some further weakness might occur but we do not expect major price changes. There may be some demand for Komercni ahead of a privatization completion. Total volume reached USD 12.22 mil. yesterday.
(Milan Procházka)