The Prague PX-50 index declined 1.64% as world markets continued to tumble. Ceske radio led the losers, the company released its 2000 IAS results (see our comment), which were worse than the market expected, plus investors feel the stock has little growth potential at present; the stock traded as low CZK 958 with both domestic and international institutional investor jumping in. Total market volume reached USD 13.37 mil. on Wednesday. For today, the market should follow Western markets. We expect the recent intra-day volatility to decline.
(Milan Procházka)