Domestic share down in the morning, investors take profits

Komentář
Investiční bankovnictví KB

      Domestic shares lost ground today driven by profit taking. The PX-D index fell by 1.3% to 1,252.8 points. Philip Morris CR underperforms the market, as it started trading ex-dividend. Philip Morris CR weakened by 8.0% below CZK 11,000. Cesky Telecom also cut its gains losing 3.3% under CZK 300. Banks are mixed. Komercni banka is down by 1%, while Erste Bank is up by 1.2%.

      

       European shares trade higher today driven by quick progress of the US troops in Iraq towards Baghdad and by positive corporate news. L’Oreal announced decent sales growth for 1Q. Shares of insurers also move higher due to equity markets rally. Munich Re and Axa showed interesting gains. Lufthansa is down after management report it expects challenging year 2003. Meeting of Telecom Italia shareholders requiring new terms of the planned merger with Olivetti would be closely watched. Market also expect the ECB to leave its interest rates unchanged on its regular meeting.

      

      Tyto zprávy pro vás vytváří Investiční bankovnictví KB.