The first trading day of April began quietly in Prague, as interest from both domestic and international companies was limited and volumes dropped markedly compared to last week’s sessions, at USD 9.14 mil. Komercni banka lost 3.15% to CZK 967 after an aggressive sell-off upon the opening. We believe the seller was led by news that the Czech Anti-Monopoly Office is scrutinizing recent government guarantees to the bank. Ceske radio again faced strong pressure, mostly from local brokers, and yesterday’s weaker European trading did not help the stock either, as it lost 2.47% to CZK 755. Given Nasdaq’s weakness yesterday, we expect further losses locally. At the same time, we expect a fairly low volume today.
(Milan Procházka)