Domestic shares fell in the morning tracking foreign markets

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Investiční bankovnictví KB

      Prague Stock Exchange continued its slide on Tuesday morning, with the PX-D index down by 0.8% to 1,152.0 points. Banks again lost ground together with Cesky Telecom. Komerni banka dropped by 1.7% after it broken key technical level of CZK 2,000 yesterday. Erste Bank is trading down by 1.1%. Cesky Telecom also performs poorly after it added more than 3% yesterday. It corrected by 0.7% in the morning. Market activity is weak, investors wait for impulses from abroad.

      

       European shares trade down weighted by negative corporate news. Volkswagen announced cautious outlook for 2003, although it met its 2002 profit target. Nokia also lowered its guidance for 1Q. Insurers continue their slide. Deutsche Telecom corrects its yesterday’s losses helped by an investment upgrade. Bayer also moves higher after the news it plans to renegotiate the terms of takeover of Aventis CropScience.

      

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