The Czech market moved higher in mixed trading, with trading volumes in line with the long-term averages. The big news was that the main benchmark PX Index reached a new all-time-high. CEZ was the most actively traded stock as MSDW increased the target price by 18% to CZK 1,366 per share. CEZ improved on its record-setting high price and it is heading towards CZK 1,300. CME was the best performing listing with the a 3% gain in line with its US traded shares. On the other hand, Komercni banka was the biggest laggard losing 1.5% as investors took profits and pushed the price below the CZK 4,400 level. Tuesday, the Czech market should be under pressure and a retreat is likely after the market reached its record high yesterday – especially as the US and Asian markets have slumped amid recurring credit concerns. The banks might be depressed as well and copy the poor performance of such major banks as Citigroup, which have said that credit concerns are still in place and not to expect any near-term recovery.