Prague added 1.45% or seven points on Friday as foreign buyers bought Cesky Telecom. The title added 2.46%, to CZK 529.80, after an intra-day high of CZK 545. The stock traded on a good volume, with more than 997,000 shares changing hands. Komercni banka remains attractive to a number of market players here, though we feel that KB's current stock price is getting expensive having reached our target price of CZK 955; KB’s Friday high was CZK 987.90. We advise clients to take advantage of the current upward trend and gradually reduce positions. Unipetrol, after several weeks of passive trading, might gain today after Norex of Canada is reportedly interested in the government’s stake. Total market volume reached USD 33.44 mil. on Friday.
(Milan Procházka)