The market rebounded yesterday and erased its almost six percent drop over the last two previous sessions. The levels from the strong opening were sustained throughout the day, with only Philip Morris and CME closing in negative territory. For Philip Morris, the rising expectations of an interest rate hike may be behind the weakness, as the spread between the stock’s dividend yield and interest rates would narrow. Both CEZ and Komercni saw solid demand from natural accounts and both traded higher 2.7% and 1.8% respectively. Unipetrol gave a stellar performance of +13.3% on PKN restructuring comments (a conference call). We may see positive market reaction following today’s analyst meeting in Prague. We however no longer expect to see sustainable market growth before the end of the year, rather profit taking and increased volatility on apparent outflows from dedicated investors.