The PX-50 index lost 0.69% to 434.70 points on Friday: CEZ led the decliners, losing 2.18% after the market started pricing in E.ON’s decision to terminate power purchases from the company. Investors now question whether E.ON, one of the leading candidates in the domestic energy-sector privatization, will bid for the state’s stakes in CEZ and regional distributors. CEZ traded as low as CZK 104 on an above-average volume of 2.2 mil. shares. Cesky Telecom traded in a range of CZK 345–358.30, led higher by demand from local brokers. Total volume reached USD 16.03 mil. on Friday. For today, we expect the market to focus on CEZ, where the news is still quite hot, and possibly also on Cesky Telecom and Komercni banka (see below).
(Milan Procházka)