Prague fell a further 2.34% to 451.30 points as both domestic and international accounts reduced their exposure to the market. Ceske radio was again hit the hardest, falling 5.21% to CZK 1,038 in an active volume of more than 114,000 traded shares. Cesky Telecom followed, losing 2.91% to CZK 417.30, trading at an intra-day low of CZK 404.50; volume was good at more than 720,000 shares. We believe that there is a further downward risk today, particularly with the telecom stocks. Also, Komercni will release preliminary 2000 data today, which may have an impact on the stock. The total market volume reached USD 23.2 mil. on Wednesday.
(Milan Procházka)