Prague lost 0.44% on Thursday, the PX-50 index slipping to 499.60 points. It was expected that Cesky Telecom would decline, given weaker European TMT market trading, and indeed the stock lost 1.29%, to CZK 514 - there were strong foreign sellers throughout the day. Komercni banka added 2.86%, to CZK 1,044, after a major London broker started lifting the stock aggressively. We believe that the market might soon be technically short in KB, which would likely push the price higher again. More than 235,800 KB shares changed hands Thursday. Total market volume was USD 19.42 mil.
(Milan Procházka)