The PSE finished down for the second day in row. The total traded volume improved as both domestic and international players were active. Zentiva and Komercni banka were the only stocks finished in positive territory. CEZ was the most traded stock again and managed to close above CZK 820 level. Telefónica O2 CR decreased on mixed selling and consolidated at CZK 495. Komercni bnaka closed up thanks to strong demand from domestic accounts while Zentiva also finishing in black numbers, was lifted up toward the end of the session by the international players. Orco showed the worst performance of the day falling by 2.7%.
* Orco: daily reported residential margin drop from 30% to 5-15% and unsold flats increased to 22% from 3% in five years ago due to higher competition
*Philip Morris: ING upgraded the stock to “Hold” from “Sell” with target price of CZK 9,900
*CEZ: plans to enter WSE by the end of October