Trading was quiet and market volume in Prague was low again on Thursday, as there was neither news nor a major flow. The PX-50 index closed unchanged at 508.30 points. The day's gainer was Unipetrol, up 2.46% at CZK 67.39, as foreign buyers accumulated the stock. Domestic selling flow, however, keeps the stock from advancing further. CEZ neared the CZK 110 level, but we fear volatility given that only a below-average amount of 608,000 shares changed hands Thursday. Komercni seems to be stuck at just above the CZK 1,000 level; there is a strong demand there, but some seem ready to reduce their positions in KB at higher levels (CZK 1,020 to 1,040). Total market volume reached USD 10.86 mil. on Thursday. Today, we expect a weak opening (in line with the US close) and a low-volume, unexciting trading session.
(Milan Procházka)