Czech equities started session deeply in red extending losses from previous days. Then step by step rebounded and rallied after FED cut rates. The enthusiasm was rather short-lived and PX Index closed weaker by 1.7%. The huge volume, approximately 2.5 times higher than averages, changed hands in this volatile trading. CEZ was more than the half of total turnover in SPAD and closed down by 2.7% ignoring rating upgrades at Patria and Bear Stearns. Komercni banka managed to finished flat as buyers stepped in. Pegas Nonwovens outperformed the rest of the board on the back of active international buyer. We saw also huge volume on Telefonica O2 CR. The listing was supported at the CZK 470 level.