Czech stocks moved upward on Tuesday, in line with the positive sentiment on major European bourses, particularly as regards TMT stocks, and on increased interest here from both international and domestic investors. Total volume reached USD 26.12 mil, which is well above the recent average session volumes. Cesky Telecom rose 5.67% to CZK 463.40, with more than 795,530 shares traded. CEZ demonstrated great appeal yesterday also, as more than 1.5 mil. shares changed hands (350,000 in a single trade). There is a decent flow on the stock from international investors. For today, we feel that the market will be in a difficult situation, looking for further direction in the absence of any fundamental domestic news. We may in fact see a wave of profit taking, with Cesky Telecom and Ceske radio likely first on the list.
(Milan Procházka)