In Prague, the PX-50 index gained 0.26%, to 419.80 points, on Friday, in a session almost entirely focused on trading in Komercni banka, Friday being the deadline for the submission of binding bids in the privatization of the bank. Komercni added 1.55%, to CZK 1,048, and more than 246,000 shares changed hands. The stock peaked at CZK 1,060 where a number of sellers, both domestic and international, were active. Cesky Telecom traded slightly higher, closing up 0.40%, despite a general lack of investor interest. Philip Morris CR, formerly known as Tabak, gained 1.79%, to CZK 5,615. Total market volume reached USD 14.69 mil. on Friday. We expect trading in Prague this week to be principally driven by US interest rates, which are expected to be cut again at the Fed’s policy meeting on Tuesday.
(Milan Procházka)