Only CME Closed in Green

All Czech listings included in main PX Index declined with the only exception, CME. The Czech market decreased by almost 1% on quite high traded volume. The main PX Index closed near to day low at 1,672 points. Orco, CEZ and Pegas were losers of the day. We saw high volume traded in CEZ before company’s 4Q06 results, which would be posted tomorrow before market opening. Telefonica O2 CR also reports tomorrow, but most probably in the afternoon after the session. The stock fell about 1% as Citigroup cut its rating to Sell and set the target price to CZK 500 per share. Also Komercni banka was downgraded by Citigroup to Sell, but the target price remained unchanged. Orco became the worst performer of the day thanks to profit taking. CME was the only stock closing in positive territory influenced by good results of Polish TVN.