We saw positive trading in entire region. Index PX
closed up by 1.4%. The total trade volume was below the long-term averages. The market was driven by Komercni banka, Telefonica O2
CR and Zentiva
. Philip Morris
lost 4.4% as it traded the first day without dividend rights (our estimates CZK
600 per share). Komercni banka rallied again and broke the important level of CZK
4,000, but closed slightly below at CZK
was demanded and gained almost 4% after sharp fall in previous session.