The concluding US presidential saga and encouraging comments from some of the worlds largest companies on their growth prospects in the coming years pushed the Czech PX-50 index up 4.27% to 437.40. The gainers of the day were CEZ, up 6.32% at CZK 94.15, and Cesky Telecom, which added 3.73% to CZK 417.60. In comparison to peer markets, the Czech market still suffers from a lack of news flow. Market volume reached only USD 13.55 mil. yesterday. In CEZ, for example, only 826.400 shares changed hands; in Cesky Telecom, only 307.603. We believe local retail investors make up the vast majority of volume these days. For today, the positive mood should continue, largely supported by the Fed chairman's comments yesterday on interest rate and monetary bias outlooks.
(Milan Procházka)