Thursday was another dull trading on PSE. Activity increased just before close. CEZ rebounded from CZK 1,215 and closed almost flat at CZK 1,226. short covering on Telefonica O2 CR pushed price more than 2% higher. Telefonica O2 CR flirted with the CZK 500 level, but was not able to reach it. CME was the star of the day, after upgrade from Goldman Sachs to Buy from Hold. Zentiva gained despite slightly worst than expected 1Q08 sales supported as usual by local financial group. Volumes were less than 50% of long-term averages.