Ranní komentář 16.10.- ještě porosteme

  We expect the market to continue in its yesterday's rally but with slower pace and some profit taking later on in the afternoon.

CESKY TELECOM's mobile unit EUROTEL posted 2.5% y-o-y increase of net profit in 1-3Q02to CZK 5.076bil on sales CZK 21.22bil, down 5.8% y-o-y.

* ERSTE BANK is planing its expansion in Hungary. It declared interest to aquire Posta Bank

* MACRO: 1)The planned budget deficit for 2003 is likely to be reduced to CZK 100-120 bil. from the CZK 157 bil.

2)Czech central bank (CNB) board member Pavel Racocha sees room for an interest rate cut at the end-month.

Retail Sales for August and Average Wages for 2Q02 are due at 9 am CET today:

Mkt. Exp. Last
Retail Sales (y-o-y) -2.0% 5.6%
Avg. Nominal Wage n/a 7.0%
Avg. Real Wage n/a 3.2%

UNIPETROL: presentation at 2:00 p.m. CET


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