Prague lost 1.38% on Wednesday in a good trading volume of USD 25.65 mil. Cesky telecom was the most heavily traded stock of the day, more than 1 mil shares were traded, trading in a reasonably good range of CZK 446.10-467. A foreign bidder took a strong presence in the title and maintained it throughout the day. Ceske radio lost 2.85%, to CZK 1091; investors took profits on the stock’s recent gains, with a descent selling flow coming from London. For today, we expect cautious trading as the market continues to search for near-term direction. We believe, however, the market is rather long at present and therefore is more vulnerable to a decline.
(Milan Procházka)