The Czech stock exchange finished lower in sympathy with neighbouring markets. CEZ dropped on worries about potential share overhang if the government wins a confidence vote on Friday, as it plans to sell 7% in the company. Also weak energy prices dragged the stock down, the price fell even to CZK 890. Erste Bank declined as its Romanian branch BCR posted weaker than expected 2006 results. Komercni banka closed below CZK 3,200, but defended the crucial level of CZK 3,190.
Thanks to foreign buyers Telefónica O2 CR jumped to above CZK 500 in last 30 minutes of the trading. CME showed a roller coaster when gained 3.5% to the CZK 1,790 level in the morning, but closed at day low of CZK 1,738.