The Prague’s stock exchange closed almost flat as gains on Erste Bank was offset by losses on Telefonica O2 CR (Cesky Tel) and CEZ. Philip Morris went up to CZK 10k level as international investors were supporting the stock. Erste Bank was the best performing stock of the day and grew by almost 2% ahead of investors meting scheduled for the next week (October 9). Unipetrol dropped on the back of the news that has to halt production in chemical units due to unplanned repairs which will impact 4Q06 results.
Telefonica O2 CR declined being offered foreign accounts while bids were weak and the stock tested CZK 440 level. CEZ reached CZK 811 in the morning where found strong resistance, but closed at day low of CZK 800. Komercni banka failed to hold its morning gains and closed also at day low of CZK 3,325. Volumes were concentrated at CEZ once again having the half of the total turnover of the market.