PSE Dropped 1.2%; All Stocks Down

The market got hit hard after US macro data. All stocks in SPAD declined. Philip Morris fell on the back of CAIB’s downgrade to Sell from Buy. CEZ lost almost 2% and closed below the CZK 875 level as the title was hammered from the CZK 885 to the CZK 875 after US figures. Erste Bank decreased on the UBS’s downgrade and Morgan Stanley placed 1.4m shares at EUR 52.2. Komercni banka managed to defend the CZK 3,400 level. Teleónica O2 CR (Cesky Tel) declined only 0.5% as was nicely bid by international investors. CME closed below the CZK 1,600 as the both foreign and domestic accounts were on the Sell side. The total volume was at YTD average.