Czech stocks continued their decline on Monday, and index PX-50 lost 1.53% to 406.70 points. Ceska sporitelna led the losers - it was down 5.00% to CZK 254.60. Komercni lost further 2.47% to close at CZK 947.50, intra-day it was as low as CZK 920. Some natural buyers occurred in Cesky Telecom and CEZ, Cesky Telecom lost 1.85% to CZK 371.30 and CEZ stagnated at CZK 86.74. Total volume reached USD 15.49 mil. For today, we believe the market still has not found its level and are ready for further decline, we might see Cesky Telecom losing more ground. Komercni might recover slightly as we expect more buying flow there.
(Milan Procházka)