Czech stocks gained 0.98% on Wednesday, as measured by the PX50 index, as buyers turned out for Cesky Telecom (CT) again—the stock gained 2.43% on the day with good volume of 640,000 traded shares. Some market players seem to explain the growth by Merrill´s reiterated “buy” for CT, announced last Friday, and target CZK 1,070 (though the report was issued on Friday). Overall, the market seems to be overheated, and we see more and more sellers. Volumes yesterday were again above-average, at USD 26 mil.
(Pavel Růžička)