The PX-50 index gained only marginally yesterday, helped by CEZ and Zentiva shares. However, Komercni, as well as its peer OTP bank, were under selling pressure throughout the day. We continued to see ongoing international demand for CEZ shares, despite no relevant news; investors seem to be positioning themselves for 2006, and simultaneously it seems that large domestic sellers substantially lowered their holdings in the name. CME continues to benefit from its inclusion into the MSCI index series. For today we expect further uptick in the market, particularly CEZ seems to be in the hot spot for more upside. Volume however is to remain below average, as we expect limited activity from institutional accounts.