Domestic shares move higher again, European shares look for a trend

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Investiční bankovnictví KB

      While the European shares look for a trend today, the domestic market resumed its growth trend after a one-day break. The PX-D index increased by 1.0% to 1,261.4 points driven by gains of Cesky Telecom. Cesky Telecom increased by 2.7% correcting its yesterday’s drop. Banks again move higher together with Unipetrol and Philip Morris CR, which is trading ex-dividend. Overall is the activity poor, investors are not willing to place their funds to equities before the weekend given the increased uncertainty.

      

       European shares look for a trend. Yesterday’s optimism from quick advance of coalition troops towards Baghdad is gone, investors wait for new developments in Iraq over the weekend. The markets are also expecting fresh macroeconomic indicators on US labor market. Bayer moves higher supported by news that it won another case against the damages caused by troubled drug Baycol. Insurance sector also moves higher. On the other hand, technology sector is losing ground. SAP is down following a warning of its competitor PeopleSoft. STMicroelectronics is also weaker after the company posted preliminary 1Q2003 results below its own targets.

      

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