The Czech market declined the second day in row. All Czech blue chips closed down, CME was the only exception. Philip Morris showed the worst performance and lost about 6% when traded volume was very thin and we did not see any buyers. Zentiva also significantly declined on the back of no news and well underperformed Hungarian peers. The foreign accounts were on the sell side. Cesky Telecom sank to CZK 445 but finished above CZK 450 level, domestic players were selling while international buying. CEZ lost as well, but found nice support at CZK 650 level when foreign accounts showed interest.
Expected events
26/6 Komerci banka: Dividend payment day
27/6 Orco: Press conference on future plans at 3pm CET
29/6 CNB: Board of governors meets, no changes in interest rates expected
30/6 Preliminary draft for second phase of CO2 allocations