Domestic shares look for a trend, Europe hit new six-year low

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Investiční bankovnictví KB

      Prague Stock Exchange started new week quietly, the PX-D index is trading around its closing level of 1,163.1 points on Friday. Another gains of the telecommunications sector is balanced with losses of banks and CEZ. Cesky Telecom is growing by 2.3% to CZK 270. Ceske Radiokomunikace follows with a 1.7% increase. Erste Bank underperformed the market on Monday morning losing 1%. CEZ traded down by 0.9%. Komercni banka loses 0.6% close to CZK 2,000.

      

       European shares dropped to fresh six-year lows due to decline of the insurance sector. Swiss Re, Generali, Aegon and Aviva saw their shares sliding. Swiss Life continued its decline after it warned on deeper 2002 loss last week. Rumors on the company’s solvency circulate on the market. Deutsche Telecom erased initial gains and trades down after it posted the biggest loss for 2002, which is also record loss in German corporate history. EADS also loses ground after it announced weaker than expected results and another job cuts.

      

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