Czech equities, as measured by the PX Index, were up by 0.8% in the past week and closed at 1,685.0. The overall volume of trading on the PSE reached USD 976.1m, 17.3% below its 12M weekly average of USD 1,179.8m. The best performing stock of the past week was CME. Stock jumped 6.4% supported by target price upgrade. The newcomer NWR also showed a nice gain as investors were active ahead of its 1Q08 report (Friday, May 30th). NWR’s numbers came-in more or less according to market expectations. Unipetrol gained 2.5% as its weight in MSCI Index doubled. The most traded listing CEZ closed trading almost unchanged. Komercni banka lost 1.7% as stock went ex-dividend of CZK 180 per share during past week. Zentiva declined on the back of international supply. Used car dealer AAA Auto reported at the end of the week its 1Q08 results which slightly surpassed expectations. Orco announced much worse 1Q08 results than projections and slumped about 5%. Also another developer ECM disappointed with 1Q08 numbers and decreased by 2%. However Pegas Nonwovens delivered 1Q08 results by 7.8% better than market expectations price decreased by 1.6% during the past week. This week CME, Zentiva and ECM hold their AGMs. Apart from that we do not expect any major corporate catalysts.