Prague continued in a southward trend on Friday, losing 0.46% as measured by the PX-50 index. The market follows the anxiety evident on major foreign markets. Ceske radiokomunikace was the worst hit stock on Friday, losing 2.10%, with an intra-day low of CZK 1,410. The sellers were local brokers, and we believe that Czech retail clients making stop-losses were behind much of this. Cesky Telecom was another weaker stock Friday, down 1.5% at CZK 486.60, trading as low as CZK 477.50. Only Ceska sporitelna, which seems to regularly outperform the market in hard times, rose, adding 2.5% to CZK 235.80. There is virtually no interest in acquiring Czech equities at the moment. Trading volume reached USD 8.7 mil. on Friday.
(Milan Procházka)