Czech equities, as measured by the PX
Index, were up by 4.0% for the week to close at 1,708.9. The overall volume of trading on the PSE reached USD
1,135.2m, 35.2% above its 12M weekly average of USD
High volumes went thought the market as international accounts were active. CEZ and Zentiva
were the most actively traded stocks of the last week. CEZ strengthened by 6% and Zentiva
by 5.5%, both supported by strong international demand. The Czech government decided in the beginning of the last week about its selling of a 7% state stake in CEZ. Zentiva
benefited from a series of analysts’ upgrades. On the other end of the spectrum there was Philip Morris
, which ended the week off by almost 8%. The company announced its FY2006 results, which came in down by 46.1% y/y and 28.4% below the market consensus. The new listing on the PSE, Pegas Nonwovens released its FY2006 results at the beginning of the past week, which were 4.2% worse than consensus estimates. The best performer of the last week became Orco
with a 6.4% gain. The stock was supported by an analyst upgrade.
For this week, we expect Orco
’s 2006 IFRS results to be announced on Thursday, March 29 and also, the CNB should decide about interest rates.