Domestic shares move higher, Europe as well, ECB rat decision eyed

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Investiční bankovnictví KB

      Domestic shares opened sharply higher today. The PX-D index improved by 2.1% to 1,154.5 points in the morning driven by Cesky Telecom and CEZ. Both titles gain more than 3% and cut their drops from previous days. Banks also move in line with the market. Erste Bank up by 1.6% and Komercni banka with a 1.8% gain. Komercni banka returned above CZK 2,000.

       European shares also move higher on Thursday. France Telecom rose as the investors welcome the debt-restructuring deal, which starts with a EUR 9bn injection from French government. The government also said that it plans to cede control over the operator, which mean its privatization. BNP Paribas gets ground after it demanded seat in Credit Lyonnais Board of Directors after it secured control of 16% stake. ECB meeting remains on investors’ focus list. A 25-50bps interest rate cut is widely expected.

      

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