The Czech market opened weaker on a supply of shares from local accounts; however, internationals were net buyers of the local market throughout the day. The PX-50 index therefore managed to close in green territory or up 0.2% by the close. Orco shares were the day's top laggards, loosing over 3%. We however attribute weakness to profit taking after the recent 10% rally. Komercni banka finally moved higher after few days of struggling, though sellers are still present in the market. Domestic sellers continue to offload sizeable amounts of CEZ shares. Nonetheless, we believe the overall market is a net buyer of the shares and it should move up to new record highs in the days to come. We expect a narrow range trading in the course of today with no particular intraday moves as we lack any breaking news or catalysts.