CEZ erased 1.4% from its value Friday and dragged the whole market down. The main PX Index closed weaker by 0.5%. CEZ was traded around its new record level of CZK 1,209 early in the morning, but wasn't able to hold there due to profit taking. Telefonica O2 CR was also under selling pressure from international accounts and finished the session at CZK 545. Zentiva was trading down, below the CZK 1,200 level. Komercni banka showed the best performance of the day gaining 2.2%. KB was traded in-line with the EU banking sector and set a new all-time high of CZK 4,501 on the back of the speculation that Warren Buffet was buying a stake in Bear Stearns. The board of the CNB left the main interest rate unchanged at 3.25% at its regular monetary meeting. Monday, the Czech market should open lower due to an expected sell-off in the banking sector on the announcement by UBS that it is about to post a 3Q07 net loss due to losses in its bond portfolio. Erste Bank should get hit also as Citigroup cut its target price to EUR 67 vs EUR 69. CEZ's share buy-back continues but the latest statistics show that the government has a lot more yet to come on the sell side. Telefonica 02 CR should continue sliding down as buyers didn't appear even at the CZK 545 level, CME will open down around CZK 1,780 to parallel the lower closing of its shares being traded in the US.