We have seen today the biggest market volatility ever. Trading range was between -4% and +2.38%. All stocks were traded with similar pattern, sold-of in the morning, but finished high. CEZ closed slightly in red at CZK 730 level, but thanks to stop losses was traded below CZK 680 intraday. Unipetrol sank to CZK 174 and closed at CZK 214. Cesky Telecom increased by almost 7% being supported by international buyers. Komercni banka was traded the last day with dividend of CZK 250 and finished at CZK 3,300 level. Philip Morris jumped even active long seller, but supported by local accounts.
Patria/KBC reiterates BUY recommendation on CEZ and fair value of CZK 1,030.
Patria/KBC upgraded Unipetrol to BUY from SELL and raised target price to CZK 267.8.