Equity markets lack liquidity ahead of weekend

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Investiční bankovnictví KB

      Trading with shares on global markets is again influenced by developments in Iraq. Market activity is close to non-existent, investors wait for new information. Uncertainty related to the length of the conflict discourage the investors from investing into equities. Domestic shares went slightly higher on Friday driven by another gains of CEZ. The PX-D index is currently up by 0.1% at 1,237.9 points. CEZ rose by 1.2% to CZK 96. Other domestic shares fell. Cesky Telecom, Komercni banka and Philip Morris CR are jointly down by 0.8%.

      

       Foreign markets are also negatively influenced by poor corporate news. Munich Re falls after investment recommendation downgrade after it reported larger than expected loss for 2002. Carmakers also trade down following warning from Renault, which saw a decline in demand due to market uncertainty. Shares of Renault, Volkswagen, Porsche and Fiat lost ground. TotalFinaElf and Shell mirrored an increase in oil price.

      

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