Bear hit also Czech stock market. Weekly performance for Czech blue chips.

Earnings season is just at the beginning. Telefonica O2 already released results which beat analyst estimates. Annual income growth 14.3%. Company has attractive dividend yield 9% with dividend date 10-Sep-2007. In advance Zentiva informed that will not satisfy analyst with results because of price regulations.
Without any other corporate news we could still see high volatility extended over all world markets.

Weekly performance:
Czech index PX50 -4.34%, CEZ -2.62%, Erste Bank -5.95%, Komercni Banka -2.47%, Unipetrol -6.67%, Zentiva -16.40%, Orco -10.09%, ECM -9.33%

Due to subprime lenders issues both developers (Orco, ECM) are under bearish pressure.