Czech equities, as measured by the PX Index, declined by 1.4% in the past week and closed at 1,424.2. The overall volume of trading on the PSE reached USD 1,149.3m, 11.5% below its 12M weekly average of USD 1,298.9m. Best performance during past week showed the banking sector. Erste Bank was the star of the week followed by Komercni banka. Prices were supported by rally in the financial sector on the back of positive results from JPMorgan and BlackRock. Also Unipetrol closed the week up due to oil prices drop. The biggest laggards were companies from the real estate sector. Negative sentiment, stop-loss orders and margin calls pushed Orco and ECM deeply to red. Also used car dealer AAA Auto fell during the past week and reached its all time low. NWR erased more than 11% after a drop of coal prices; supportive factor was Cleveland-Cliffs’s bid for coal producer Alpha Natural. Zentiva reports its 2Q08 sales on Tuesday (July 22). Telefonica O2 CR will announce complete quarterly results on Thursday (July 24) after market close.