Equity market on Thursday: KB and Telecom dominated

Thursday’s volume jumped up to USD 18.55 mil. as Cesky Telecom became a target for speculative trading by London houses. The stock peaked at CZK 637.90 in the morning, but a seller later brought the stock down to its close at CZK 616.60. It did not appear that the trading was based on specific news. Komercni gained 0.93% and closed at CZK 937, but was trading as high as CZK 953 intra-day when a large portfolio account bid on the stock from London. Other price changes were of little importance, and there was no major trading flow other than that involving KB and Cesky Telecom. Index PX50 index lost 0.56% on Thursday and closed the day at 545.7.

(Milan Procházka)