Czech market slumped 2nd day in row on general sell-off in “emerging markets”. All main blue chips sank more than 3%. CEZ went ex-dividend (CZK 15 per share) today and found support at CZK 740 level. Unipetrol fell most on the back of weak 1Q06 results. Unipetrol reported net income CZK 847m versus our forecast of CZK 1.2bn.
Komercni banka dropped below CZK 3,500 and trades at level before approved surprisingly high dividend of CZK 250 per share. Erste followed sell-off on Austrian banks. Raiffeisen International closed -5.35% today. Also Zentiva closed down inspired by Hungarian pharmas. CME was the only stock finished in black helped by stronger USD/CZK rate. Volumes were above average with focus on CEZ again.