At last, we had a truly busy day on Wednesday, after several weeks of holiday-like trading. The direction was provided by orders at two London banks. Both seemed to have buyers in Komercni banka and sellers in Cesky Telecom. Although a couple of other orders were made, they were not strong enough to counter the two. Cesky Telecom traded in a range of CZK 605-622.80, fetching some bids at CZK 608 near the end of the day. Despite KB news yesterday (of a likely delay in the government’s specifying the size of guarantees for KB, from early September to early October), which we took as negative rather than positive, the stock gained 3.42% and traded as high as CZK 906 (after falling below CZK 850 in the morning). Other stocks traded with little interest and most quotations moved with Cesky Telecom’s price. Volumes yesterday reached USD 18.7 mil.; the PX-50 index was down 0.50%.
(Milan Procházka)