The Prague PX-50 index lost 0.85% to 442 points. CEZ was clearly the winner of the day as a number of foreign investors switched over to the stock from other telecom names. CEZ gained 4.61% to 102.15 with intra-day trading high standing firm at CZK 102.70. Ceske radiokomunikace was under strong pressure from a London seller again and lost 6.53% to CZK 818. Recent statements by FinMin officials raised questions about the Cabinet’s decision on the tender after two bidders offered prices far below expectations. Cesky Telecom traded in a decent volume, as the stock had a strong seller. Total market volume reached USD 15.84 mil. We are likely to see some profit taking in CEZ, Cesky Telecom is likely to remain under selling pressure.
(Milan Procházka)