Czech market closed higher on Friday pulled by demand for Komercni banka, Orco, Philip Morris and CEZ. Komercni continues to be well bid, supported by demand for regional financial stocks. CEZ added almost 1% on rising electricity prices and Orco recovered from correction on Thursday. We expect further upside for the regional and local stocks today as a weaker US payroll report boosts optimism the FOMC will halt its tightening cycle - a positive news for the emerging markets.