The PX-50 index closed down 0.12% as the Czech market resumed trading after its 1-day holiday (on September 28th). Cesky Telecom continued to outperform the market, trading with decent momentum and heavy volume. Large long funds continue to accumulate shares in quantity, and even large domestic venture funds bought into the stock as well. We continue to see more trading upside in the stock in days to come and expect Cesky Telecom to break the CZK 500 level today. The rest of the market was however offered throughout the day as macroeconomic worries linger on some of our neighboring markets. Hungary in particular is raising some eyebrows.