Czech equities, as measured by the PX Index, were up by a slight 0.2% to close last week at 1,564.5. The overall volume of trading on the PSE reached USD 603.4m, inline with the 12M weekly average of USD 604.8m.
CEZ saw an increase of almost 3% and finished above the CZK 900 level. This was after the company announced its 3Q06 results and increased its FY 2006 guidance to CZK 28.5bn from CZK 28bn. Erste Bank also added to its price on the back of strong investor demand in Vienna. Komercni Banka lost more than 4% after the bank posted weak 3Q06 results and the stock was heavily sold-off by foreign investors. CME also fell by more than 4% as the 3Q06 results were market disappointing. For this week, the market will hear about Orco’s 3Q06 results, which would be reported on Wednesday, November 22. No other major catalysts are expected.