The Prague PX-50 index closed almost unchanged yesterday, down 0.02% to 418.40 points, as locals looked elsewhere for direction and fresh sentiment. Ceske radio lost 10.45%, to CZK 589 (as the price caught up with Friday’s late news that TeleDanmark’s reported bid of CZK 861 per share was cum-dividend, not ex-dividend), and the stock traded with a wide spread; only 19,000 shares changed hands. CEZ was well demanded from London—more than 1.2 mil. shares were traded—but we expect the situation to change today following last night’s Cabinet decision to cancel the power-sector privatization advisory tender result (see below). Cesky Telecom was a relatively inactive stock yesterday, only 249,000 shares traded, with most of the volume coming from local investors. Total market volume reached USD 11.72 mil. on Monday. For today, we expect a positive trading mood in the morning session.
(Milan Procházka)