Together with the rest of the European market, the Prague Stock Exchange went under on bad news coming from Dubai. Volumes were quite low which usually brings on high volatility. Banks were hit hardest: Komercni banka performed a free fall in the morning slumping to an intraday low of CZK 3,630. At that level, the stock price stabilised and even attracted few buy orders. The rest of the day was spent hovering around CZK 3,700 for (3685 CZK, -1,99%). After breaking its levels of CZK 740 – 760, (708 CZK, -4,47%) nose-dived to levels around CZK 715 and closed with a 3.8% loss. CEZ had to defend CZK 850 but most sell orders were absorbed at this level today. (165 CZK, -1,55%) withstood the day without a major change on a bigger buy order. Tomorrow, the US market will only open for half a session thus Europe has to rely on itself. High volatility can be expected again on more news about the current situation.