Monday’s volume reached USD 9.32 mil.; with the PX-50 index losing 1.07%, closing at 498.8 points. The SPAD market-making system of the PSE experienced the entry of a new stock on Monday, Tabak. The increased liquidity in the largest Czech tobacco company, owned by Philip Morris, helped the stock price gain as much as 9% intra day, to a high of CZK 6,210. We observed a buying flow from retail customers as well as sell orders from foreign institutions. Tabak in the end closed up 4.40%, at CZK 5,951. The approval to launch the Temelin nuclear power plant, expected and issued during the day yesterday, helped CEZ, which traded as high as CZK 113.40, but closed only 0.55% ahead, at CZK 110.30. The stock still has positive momentum. Cesky Telecom, on the other hand, is testing new lows at the CZK 500 level. There are still some intra-day speculators but no value-buying investors, at least as far as Telecom is concerned. For today, we expect the Czech market to follow the major European indices; the market will likely ignore domestic macro data scheduled for release this morning.
(Milan Procházka)