Prague lost slightly on Wednesday, with the PX-50 index losing 0.63%, to 413.30. Cesky Telecom led the losers as a domestic broker aggressively sold the stock. Komercni banka, on the other hand, gained 1.80%, trading as high as CZK 1,080 on speculation of high bidding for the state’s 60% stake in the bank. Ceske radio gained sharply, rising 4.09% to CZK 544.50, after TeleDanmark confirmed its submission of new bid and after a government source was quoted as saying the bid is close to govt. expectations. Total market volume reached USD 9.76 mil. yesterday. For today, we are expecting the market to rise following renewed optimism on US markets, though we still expect domestic players to be the major source of the domestic trading flow. Ceske radiokomunikace should gain further on the strength of the news report below.
(Milan Procházka)