The Czech market closed higher for the fifth day in row. Investors’ focus was again on CEZ and
Zentiva.
Zentiva became the most traded stock of the day. The total traded volume was well above the long-term averages.
Zentiva jumped above the
CZK 1,500 level on the back of upgrade from Citigroup to Buy and the target price rose by 20% to
CZK 1,800, but did not hold its gains after some limited profit taking.
Orco was also up after Citigroup lifted its target price to EUR 140 from EUR 115 with recommendation Buy. CEZ was traded all day comfortably above the
CZK 900 level and closed at
CZK 910. Telefónica
O2 CR declined, but with very light volume changed hands.