Domestic shares look for trend, foreign markets down again

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Investiční bankovnictví KB

      Prague Stock Exchange suffers today with lack of activity. The market is looking for a trend, it up and down from negative to positive territory. Currently, the PX-D index is up by 0.1% to 1,233.6 points. Foreign equity markets are down again due to continuing uncertainty on Iraq and weaker corporate news. Investors try to determine the length of the military operations in Iraq and their impact on global economy.

      

       On the domestic market, only shares of Cesky Telecom, Erste Bank and Unipetrol showed some interesting movements. While Unipetrol and Erste Bank drive the market higher, Cesky Telecom goes through strong correction after it broke through key technical level of CZK 300. Market activity is close to non-existent, new developments in Iraq are expected.

      

       European shares lost ground in the morning again due to combination of poor corporate news and continuing uncertainty on Iraq. British company ICI warned investors that it would not meet its expectations due to weak demand and high raw material prices. This news sent down chemical sector – Akzo Nobel, Clariant and Air Liquide. France Telecom also do not perform well after arbitrage trades with warrants following announcement of share capital increase.

      

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