Czech equities, as measured by the PX Index, were up by 2.4% to close last week at 1,582.2. The overall volume of trading on the PSE reached USD 833.8m, 5.1% above its 12M weekly average of USD 793.4m.
CEZ was the most actively traded stock of the past week and it reached an all-time high on the back of strong foreign demand. Also, Erste Bank hit an all-time high on strong demand in Vienna and it became one of the best performing stocks in the week’s session. Komercni banka declined further as sellers still prevail on the market. Orco recovered from losses caused after the release of its 3Q06 results. Telefonica O2 CR (Cesky Tel.) showed a nice performance with international accounts on the buy side and it significantly outperformed other regional telco companies.
Notably, Unipetrol, which had gotten hit with a penalty from the EU for participation in a cartel agreement, saw its stock increase by almost 3%. For this coming week, there will be a number of items of macrodata being announced, but we lack any important corporate catalysts.