Domestic shares move higher in the morning, Europe also bounced from 6-years lows (13.3.2003)

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Investiční bankovnictví KB

      Domestic shares rose in the morning, the PX-D index is currently up by 1.7% to 1,180.1 points. Cesky Telecom and Unipetrol drive the market higher. Unipetrol is adding another 4.4% to CKZ 42.60 and Cesky Telecom follows with a 3.1% increase close to CZK 290. The other Czech blue-chips also move higher. Komercni banka is adding 1.0% and Erste Bank rose by 1.6%. Market activity is weak.

      

       European shares also moved higher in the morning. Companies that were battered in the previous sessions found some support. Ahold and Suez move higher. Fortis improved in the morning following a release of smaller net profit deterioration that the market had been expecting. Moreover, Fortis dismissed rumors it planed a capital increase. Thales moves higher after it announced a return to profitability and projected more bright future. Bayer bucks the trend after its net profit dropped by 46%. The company is also facing almost 9,000 lawsuits due to its problematic drug Baycol.

      

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