All Czech blue chips dropped in the afternoon as US CPI data came higher then expected supported renewed concerns that FED will further hike interest rates. CEZ was quite strong in the morning as investors were building long positions ahead tomorrow 1Q06 results, but sank towards close copying sharp fall of MOL, PKN, etc. Unipetrol declined by 2.75% after profit taking. Cesky Telecom declined below psychological level CZK 490 and followed regional peers MTEL and TPSA. Komercni banka was trading in wide range of CZK 3,480 – 3,590.
CEZ reports its 1Q06 figures tomorrow before 9:00am London time. Net income is expected at CZK 9.2bn.