The Prague Stock Exchange closed the last November week with a 0.72% gain when it managed gain some stability after the morning sell-off connected to Dubai news. It remains to be seen whether or not European banks will be affected by the crisis – this uncertainty has been behind the current volatility on the markets. The Czech market copied the development on other European markets and was losing around 1% after open. Later the situation stabilized (especially the bank names) and both Komercni banka and Erste Bank (723 CZK, 2,12%) managed to close in positive territory. We observed the same development on CEZ and NWR (162,6 CZK, -1,45%). Telefónica O2 (419 CZK, -1,18%) CR however faced selling pressure throughout the whole day and closed below CZK 420. The total volume traded today reached CZK 1.58bn.