Czech equities, as measured by the PX Index, were off by 1.6% for the week to close at 1,820.3. The overall volume of trading on the PSE reached USD 875.5m, 5.7% above its 12M weekly average of USD 828.3m. CEZ was the most actively traded stock of the past week followed by Zentiva. CEZ declined more than 3% despite the support coming from its continuing share buy back program. Also, Telefonica O2 CR fell more than 3% in-line with other telco operators in the region. The negative news about selling its real estate portfolio also didn't help. Zentiva lost almost 2%. At its AGM, its shareholders approved the proposed dividend of CZK 11.5 per share. Erste Bank closed slightly lower and Komercni banka, supported by buyers with foreign accounts, moved slightly higher. Both real estate listings, Orco and ECM, finished weaker in the past week. Unipetrol was the only stock adding more than 1%. For this week, we don't expect to see any major corporate catalysts impacting the market.