The PX-50 index closed with a slight weakness of just 0.09% on the day, with total volume remaining below average. CME shares debuted in the SPAD segment, with initial trading launched well above CZK 1,200 on domestic demand. However, some arbitrage opportunities helped to push the stock below CZK 1,195 toward the end of trading. CEZ continues to be the most actively traded local name, with many international accounts involved. We saw a large sell order yesterday that pushed CEZ below CZK 470 and the first consolidation was seen at the CZK 466-467.5 level. Komercni gained almost 2% on the day, but weakness in the sector attracted some more supply to the stock, which then closed up by only 0.2%. For today, we expect a lighter opening for CME given its closing levels in the US; Komercni may eventually consolidate at around CZK 3,050; and CEZ seems to have found near-term resistance at CZK 470.