After very strong opening the market came off a bit but we still saw nice rally in Prague. PSE outperformed the rest of the region and volumes traded are still well above the averages. The most active stock CEZ gained nice 4%. Decent international buyer on Komercni banka lifted the price easily above the CZK 4,000 level. Telefonica (414 CZK, 1,75%) O2 CR was better bid as defensive name. real estate sector lag behind PX Index in-line with sector.