The Czech headline PX-50 index underwent a sharp downward correction yesterday as sell orders flooded the market. All top names recorded losses exceeding 4%; only stocks not widely held by foreign investors, such as Ceske radiokomunikace or Erste Bank (which is more traded in line with its Austrian listing), avoided heavy loss. CEZ tested levels below CZK 140, as selling intensified after news agencies reported that its CEO may be dismissed. Volume in SPAD trading system reached USD 49.96m.
Milan Procházka