The market declined dragged down by Erste and CEZ. Telefónica O2 CR lost after selling pressure due to speculation about the MSCI weighting cut. CEZ did not managed to hold the CZK 900 level ahead of its 3Q06 results, which should be reported tomorrow. Philip Morris jumped right at the close and increased by 2%, but traded volume was low. CME added almost 3% following its US traded line performance. Zentiva erased 1% from its value copying Hungarian pharma peers, when on the sell side were both domestic and international investors. Total traded volume was quite thin as the market awaits CEZ’s 3Q06 results, which will set the tone for the rest of the market.
*CEZ reports its 3Q06 figures tomorrow at 9:15CET; net income consensus is the CZK 5.6bn