The main Prague’s benchmark, the PX Index, closed lower despite the generally positive performance of other markets in the region. There was evident profit taking in Telefónica O2 CR, Erste Bank and CME as international investors were net sellers. Komercni Banka was strong traded near the CZK 3,500 level. CME followed along with the performance of its US traded shares. Orco declined with foreign accounts again on the sell side. On the other hand, ECM strengthened by almost 2% due to strong domestic demand. CEZ finished slightly up in–line with the overall energy sector.
The Czech market is expected to open down due to Friday's sell-off on the US markets. CEZ and Unipetrol may be negatively affected by the poor results of MOL, which will drag down all energy stocks in our region. Komercni Banka and Erste will most probably fall following the weak performance of US banking sector. CETV will open down catching up with the negative performance of its US shares.