Yesterday morning’s trading began in a promising enough mood when Skanska officially confirmed that it has bought 56.3% of IPS from CSOB for CZK 286 per share and thus assumes controls of the largest Czech construction company. IPS stock was bought up following the announcement, with most of the action coming from domestic traders; the stock peaked at CZK 188.69 (after opening at CZK 178). CEZ was also active yesterday, as MSDW issued a “strong buy” recommendation with CZK 144 as a target. Both domestic and foreign buyers were active here, and selling was sustained with offers consistent throughout yesterday’s session. Moreover, there was a short burst of selling in other titles as well, in the early afternoon, without any accompanying news. Yesterday’s volume reached USD 16 mil.; the PX50 index closed down 1.44%.
(Pavel Růžička)