Czech equities, as measured by the PX Index, were up by 0.7% for the week to close at 1,622.5. The overall volume of trading on the PSE reached USD 706.8m, 10.7% below its 12M weekly average of USD 791.7m.
CEZ reached an all-time high on buying interest from foreign accounts. The stock was also supported by an upgrade from a number of analysts and became, as usual lately, the most actively traded stock. The best performing stock of the past week was Unipetrol, which gained almost 4% after Lukoil announced an interest in buying its refinery assets. Also, Philip Morris was positively influenced by consolidation in the tobacco sector. Telefonica O2 CR finished the week's session in slight positive territory and far underperformed its regional peers. Komercni Banka moved down as foreign sellers continued to prevail on the market. The new listing on the PSE - ECM - was off by more than 2% in its first week of trading. This week sees trading start in another new listing - Pegas Nonwovens. We will also be looking to see what the Czech National Bank decides on any interest rate changes at its upcoming regular meeting.