Shares fall again led by banks and telecommunications

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Investiční bankovnictví KB

      Domestic shares continue moving lower, the PX-D index dropped by 1.3% to 1,164.7 points in the morning. Telecommunications titles and banks lose the most. Austrian Erste Bank is the worst performing issue dropping sharply by 3.0% close to CZK 2,000. Komercni banka follows with a decline of 1.5%. Ceske Radiokomunikace currently trades down by 1.4%, while Cesky Telecom is off 0.6%.

      

       European shares also trade down on Thursday. The renewed worries about consumer demand hit the market after German retailer Metrol joined its peers after it posted weaker than expected figures. Some support gave positive outlook from SAP. Shares of Safeway vaulted higher after news that rival Morrison placed a takeover bid valued at GBP 2.9bn. Sainsburry is losing ground, as it is expected to be hit the most, if Morrison succeeds with its bid.

      

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