We think Cesky Telecom was the trigger as investors’ built position ahead of the 51% stake sale. Until now, many of the long portfolios had a neutral to underweight positions in expectation the government stake would be sold via capital markets. Recent indications suggest the ultimate sale will be carried off the market to a strategic bidder. The sale will be followed by an obligatory public bid for all outstanding free float giving the stock a natural support in months to come. Also, an aggressive price target in a recent research report by a London bank draw attention of fresh money. CEZ gained 2.5%, however we continue to see substantial supply of shares from London accounts. Unipetrol gained in an unstoppable rally, gaining further 6.43% on the day, the stock is up almost 20% since Jan-20. The demand originates almost solely from retail accounts, many of these financed via margin. The rest of the market ended up with no underlying news.