Domestic shares fall in the morning in line with European markets

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Investiční bankovnictví KB

      Domestic shares trade down weighted by losses of the telecommunications sector. The PX-D index fell by 0.2% to 1,211.3 points in the morning. Unipetrol is the worst performing issue dropping by 1.9% below CZK 40. However, the telecommunications sector fuels the decline, with Cesky Telecom down by 1.1% and Ceske Radiokomunikace also off 1.1% close to CZK 200. Komercni banka bucks the trend moving up by 0.5%. CEZ inched up by 0.1% in the morning.

      

       European shares broke their three-day rising streak on Wednesday. Deutsche Telecom heads lower after it said it planned a convertible bond issue. However, the plan received positive comments from Moody’s rating agency. HVB Group recovered from morning losses after it posted wider-than-expected results and historically first loss. Telefonica Moviles also announced poor results.

      

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