Czech markets  |  September 20, 2012 17:13:17

Actions of central banks stretch above Exchange / BIG EXPERT - shares: Week from 17 9th 2,012


The PSE again experiencing its lighter moments. After a brief revival at the beginning of the year, which was choked starting cases on behalf of Spain, again, together with the world's exchanges, gaining breath. Development at home is only a weak shadow of what is happening abroad. While the American Stock Exchange last year's losses wiped out long ago, and the German is now deleted, Czech stocks in August swung into positive territory, but unlike western neighbors have yet to catch up on last year's losses. This year's profit Prague shares (PX) is because only about six percent. The development at home and abroad, it is seen that issue debt crisis already suffocated equity markets, as it was this time last year. Explanation can be found in about two factors: investors the debt crisis, "habit", iecounted it in their estimates, is part of the risks of the world that are buying and they know a possible deterioration of the situation in each country is not for them such a big surprise; companies have developed scenarios, what will they do when a country is bankrupt, consideration of how the Eurozone falls apart, I now also no longer shock (unlike last year) and see how many countries will within a year of the Eurozone, the competition has become lazy visionaries who may be grabbing headlines, but nothing new (unlike those last year , real). Again that Greece does not fulfill the conditions to receive from creditors today also twice nevzruší anyone - it's not the main topic. Perhaps one could say that the information that some Eurozone countries are on the right, was absorbed.The second thing is the massive support of the central banks of the developed world, supplying liquidity support to rescue individual banks and the entire financial system, reduce financing costs for borrowers (as well as income from savings) and faces poker player to convince doubters that they are committed at all times anything and their determination knows no bounds. What to do in such a situation? Yields on bonds are small. The rapid economic growth, it probably does not lead too plus there are those doubters who still emphasize the risk of inflation, which of these rescue operations follows. And the answer to the question of what to do with free money, it is obvious: buy something. A shares are not so bad anymore.

Only last week announced the purchase of other assets, the U.S. central bank, the Bank of Japan, the ECB is clearly going in the near future and other irons in the fire is China. In such an environment will probably shares continue to prosper.

Roman Skalicky, LUTHERUS

Expert opinions on the future development of selected stocks on the Czech capital market in the next month and a half, a week from 17 9th 2012th


The estimate for the period from 17 9th to 15 10th 2012 (1 months)

Name
Attractiveness
Price
(Monday)
Definitely
buy
Buy
No
action
Sell
Definitely
sell
CETV
^ ^ 50
138
2
1
2
0
0
ERSTE BANK GROUP
^ 30
466.2
1
2
1
1
0
NWR
^ 10
92.01
0
2
2
1
0
ČEZ
^ 10
739
0
2
2
1
0
COMMERCIAL BANK
^ 10
3,904
0
1
4
0
0
UNIPETROL
0
171.1
0
1
3
1
0
PEGAS NONWOVENS
ˇ -10
465.5
0
1
3
0
1
FORTUNA
ˇ -10
89.24
0
0
4
1
0
PHILIP MORRIS CR
ˇ -20
11309
0
1
2
1
1
TELEFÓNICA O2 CR
ˇ -20
384
0
1
1
3
0


The estimate for the period from 17 9th 2012 to 18 Third 2013 (6 months)

Name
Attractiveness
Price
(Monday)
Definitely
buy
Buy
No
action
Sell
Definitely
sell
ERSTE BANK GROUP
^ ^ 50
466.2
0
5
0
0
0
CETV
^ 40
138
0
4
1
0
0
NWR
^ 40
92.01
1
2
2
0
0
ČEZ
^ 30
739
1
1
3
0
0
PEGAS NONWOVENS
^ 10
465.5
0
2
2
1
0
COMMERCIAL BANK
0
3,904
0
0
5
0
0
PHILIP MORRIS CR
0
11309
1
1
1
1
1
UNIPETROL
ˇ -10
171.1
0
1
3
0
1
FORTUNA
ˇ -10
89.24
0
0
4
1
0
TELEFÓNICA O2 CR
ˇ -40
384
0
1
0
3
1

Rating this week performed:

  • Libor Bucek, Jan Mach, Milan Nedbálek - FINANCE Zlín
  • Patrick Hudec - Generali PPF Asset Management, a fund manager společnost
  • Karel Handbag, Miroslav Hlavoň - CAPITAL GRANT
  • Roman Skalicky - LUTHERUS
  • Dušan Reactive - UniCredit Bank Czech Republic

Statistics deals with ten of the most liquid stocks traded on the PSE. The tables contain a summary of the estimates of experts listed.The column "Price" the Monday course selected titles from which to its estimates experts came out. With this value estimates will be after a period of one to six months, compared to evaluate success. The column "Attractiveness" the weighted average number of views and can take values ??from -100 to +100. Number of views "Sell", "Buy", etc. is published in other columns.
Note: Ratings are in the form of non-binding opinions, whether a security would be advisable to buy or sell with regard to the expected development in the next one month and a half year. The fact, however, may substantially differ from the estimates of experts. Experts even Kurzy.cz assume no responsibility for these differences.

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Akce centrálních bank táhnou burzy výše / BIG EXPERT - akcie: týden od 17. 9. 2012

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