The Czech PX-50 index reached a 3.5-year high as buyers continued to accumulate shares before the end of the year. Most blue chips traded on levels not seen in last seven weeks; Unipetrol even achieved a 52-week high at CZK 66.80. Komercni banka returned above the CZK 2,400 level, Erste Bank traded above CZK 3,200. Cesky Telecom lagged as investors continue to take profit after the stock rallied over 10% since the placement of TelSource's 27% stake on the market. The overall volume reached EUR 39m yesterday.
Today is the last trading day in 2003 for the Czech equity market. The Prague Stock Exchange is closed on December 31 and January 1-2, 2004. Trading then resumes on January 5, 2004.
Milan Prochazka