Vladimír Urbánek (Kurzy.cz)
Markets  |  July 09, 2012 16:56:09

Czech Republic - a summary 9.7 - PX, despite initial difficulties remained of 900 points, thanks to CEZ and HC2

The PSE started 28th week catch up losses, which have undergone foreign markets at the end of last week. Disappointment that only meet the expectations of the ECB cut rates and without any further anti-crisis steps and disappointments of labor market developments in the U.S. have at the end of last week to a major stock market correction, which previously often strengthened to its approx 2-month highs. The Prague Stock Exchange thanks to a two-day festival did not get to watch this development, which resulted in full until today.

The general mood abroad worsened again this morning, when Japan showed the largest decline in new machinery orders in the last 7 years and Spanish bonds yields rose again close to the dangerous border 7%. Later in the day, the negative mood from the beginning of the day started to mitigate and markets were close to conclusion Friday in anticipation of future development.Slightly positive signal was announcement by Greek Prime Minister that won the support of deputies for their new "pro-European" government and that the country will privatize some interesting state-owned enterprises in the necessary austerity and reform measures.
An important factor is also now waiting for the start of earnings season for Q2 of this year. As usual, the first company of the world's main index, the S & P500, the U.S. company Alcoa, which will present its results after the end of the regular trading on U.S. markets. Overall expectations for the season as a whole, are again rather negative. Estimated to decrease corporate performance year on year by 1.8%.

On the domestic scene today was, as already mentioned, is about maintaining or loss of 900 points at the PX.Morning situation looked rather fall below this threshold, in the course of the afternoon came, however, a recovery that index back above this important psychological level. The main word in this regard, the growing interest in the shares of CEZ and TO2. The former rose above the limit of CZK 700, under which dropped recently after exdividendě. Shares TO2 on the other hand this milestone slowly but surely close enough that it should in the next 2 months to be the main growth momentum. Some 10% of the assessment during two months in the current uncertain times indispensable attraction. A more significant correction today passed primarily in shares of banks led by Erste shares and CME seeking further direction after kurzotvorných reports from the first half of last week.

Daily comments:
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online index px

Conclusion Exchange July 9, 2012 16:28
Name Course Change Volume Yesterday
AAA 18.24    -1.45% 0.06 million 18.51
CETV 107.51   -2.13% 9.08 million 109.85
ČEZ 702.51    1.49% 374.14 million 692.20
ERSTE BANK GROUP 374.75    -6.31% 165.48 million 400.00
FORTUNA 93.98    -0.84% 0.75 million 94.78
KITD 90.00    2.86% 1.12 million 87.50
COMMERCIAL BANK 3563.52    -1.83% 236.28 million 3630.00
NWR 104.76    -0.23% 13.36 million 105.00
ORCO 61.35    -3.91% 1.04 million 63.85
PEGAS NONWOVENS 430.01    0.05% 3.02 million 429.80
PHILIP MORRIS CR 11,375.38    2.59% 16.93 million 11,088.00
TELEFÓNICA CR 389.55    1.05% 90.60 million 385.50
UNIPETROL 169.50    -0.58% 43.95 million 170.50
VIG 800.02    -1.11% 16.27 million 809.00
TOTAL   972.06 million

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ČR - souhrn 9.7. - PX i přes počáteční potíže udržel hranici 900 bodů, zásluhou ČEZ a TO2

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