The PX-50 index slid 2.33% to 448 points on Monday. The decline was led once again by global equity weakness; moreover, the participation of foreign investors here was extremely limited and we believe that the only domestic stock that had a foreign flow was CEZ. The stock closed down 0.36%, to CZK 98.6, on a decent volume of 969,000 traded shares. Both sides (sellers and buyers) were well balanced. Overall, total market volume reached USD 9.27 mil. yesterday. For today, we expect another rough open. Cesky Telecom, for instance, is likely to trade well below CZK 400, though we see indications of demand for the stock at CZK 380.
(Milan Procházka)