Czech equity market closed mildly in positive territory (+0.25%) as some index buyers were active late in the afternoon. CEZ gained 0.5% as it was supported by recent upgrades, however seen some resistance around CZK 825 levels. Patria raised target price to CZK 1,065 from CZK 1,030. TEF O2 CR firmed despite weakening neighboring telcos. Komercni slid after recent strengthening and on profit taking as there was a lack of buyers on the market. Volumes remained still below YTD average.
*** EVENTS EXPECTED ****
25 Aug – Philip Morris to post 1H06 cons. results