A light rebound occurred in Prague on Friday, as CEZ and Unipetrol found buyers. Unipetrol gained 2.36%, closing at CZK 65.10, as the improving financial standing of the holding and, most recently, Cabinet’s decision to advance privatization, attract increased investor interest. CEZ, up 2.43% on Friday, was stronger on the back of the Cabinet’s privatization decision last week, and may have been helped by the prospect of the activation of the first nuclear block in Temelin. CEZ’s stock has been resistant during the past ten sessions and its stock price for the period has been locked in a range of CZK 105-110. We believe that news flow and market sentiment toward the stock will be positive in the near term and that CEZ could gain as a result. Market volume reached USD 7.54 mil. on Friday, and the PX-50index added 0.62% to 504.20.
Tabak enters the SPAD market-making system today—it is quoted in 200 shares and with a CZK 300 spread.