Czech equities, as measured by the
PX Index, ended up flat for the week, closing at 1,812.0. The overall volume of trading on the PSE reached
USD 988.9m, 12.7% above its 12M weekly average of
USD 877.3m.
During the week, the
PX Index reached another all-time high, but as the week ended the high couldn't be maintained. CEZ was the most actively traded listing of the week and gained about 1%. Some analysts upgraded their target prices. CEZ’s AGM approved a dividend of
CZK 20 per share and a share buy back of up to 10% of its capital.
Zentiva moved up after Deutsche upgraded its recommendation of the stock. Its shareholders also approved a dividend of
CZK 11.5 per share. In terms of performance,
Pegas came out on top. The stock's price moved up by more than 6%, supported by strong domestic interest.
Telefonica O2 CR posted slightly better 1Q07 results than the market had expected.
Orco finished slightly down despite the news about parliamentary approval of the GSG sale in Berlin. Komercni Banka lost more than 3% on heavy selling from international accounts.
Philip Morris jumped by almost 4%. Its shareholders approved at their AGM a dividend of
CZK 600 per share. ECM fell by more than 5% after the company released its NAV information, which came in below market projections.
For this week, the market should be absorbing
Erste Bank’s results, which came in better than expected. Also,
CME reports its 1Q07 figures this week. Our net earnings expectations are for
USD 3.2m while the market consensus is closer to
USD 1.28m.