The Prague market closed at another all-time high on Friday, with banks leading the gainers (Erste up over 3% and Komercni banka up over 2.7% on the day). The market is benefiting from ongoing inflows into EMEA funds as the USD weakens. Erste shot up on the back of a price target upgrade by UBS. CEZ managed to add 1.8% on the back of Goldman’s initiation, though was better offered toward the close of the trading day. Zentiva declined as the lockup period for key shareholders and management ends today, raising fears of potential stock overhang. Philip Morris is suffering on weak half-year results released recently. We continue to be more inclined to take profits in the market as it broadly added over 5% in the last five days. US investors are likely to remain sideways as the US is closed for Thanksgiving.