Czech market measured by the PX index closed flat today. Losses of Komercni banka, Cesky Telecom and CME were off-set by gains of Zentiva and Erste Bank. The market opened up and fell down, but managed to finish higher after following positive sentiment of US market performance. Komercni banka was shut down by profit taking and intraday tested CZK 3,200 level. CEZ closed flat as we saw international accounts on the sell side. Zentiva was the best stock of the day, as a target of foreign buyers. Title was also supported by a rally of Hungarian pharmas. CME decreased by 1.32% on the back of low open of the US traded line.
• CZK is getting stronger agains EUR&USD and bucking negative development of HUF and PLN.