On Friday the Czech market kicked off with its H1 earnings reports with Komercni banka being the main release of the day. The bank closed up 2.1% on the day on mostly international buying. Also, a broker upgrade for Erste bank helped the entire CE3 banking sector. Zentiva gained ahead of its results while CEZ continues to see domestic sellers. Cesky Telecom came off to a CZK 457.5 close after Telefonica published its tender offer. We believe the positive sentiment may persist and expect further upside in Komercni banka.