CEZ and Komercni banka tested their respective supports (CEZ 470; Komercni 3100) but eventually managed to hold out, closing above this level. Most of the selling in these two names originates in international accounts. Cesky Telecom was pushed higher after recently published research notes and market hopes for a premium buyout price to be launched by Telefonica. We believe the market had virtually no response to the management reshuffle in Cesky Telecom as this move had been well flagged previously. We think investors will stay away from increasing positions ahead of the weekend and expect flat to lower prices on the day.