The PX-50 index closed almost unchanged in Prague yesterday, down 0.07% to 414.90. Cesky Telecom faced downward pressure throughout the day, losing 2.53% to CZK 355. Though some local demand appeared in course of the day, it was not strong enough to prevent the stock from falling. An article in yesterdays WSJE about KPN’s difficulties in selling its minority stake in Cesky Telecom did not help, either. CEZ traded in a good volume of more than 1 mil. shares after the company reported better-than-expected Q1 2001 results. Ceska sporitelna gained 3.61% and traded above CZK 230 again, lifted by a domestic fund. Total market volume reached USD 12.52 mil. on Wednesday.
(Milan Procházka)