The PX-50 index closed down 0.11% yesterday but closed above 600 points, still near its three-year high, to 611.6 points. Despite that UK markets were closed yesterday, the traded volume in the SPAD system in Prague reached a near-average level of USD 19.30 mil. After an initial sell-off from domestic investors after the opening, when some individual losses exceed 2%, stocks rebounded on foreign buying--CEZ and Cesky Telecom were especially well demanded. Unipetrol gained 4.80% after Lukoil was announced as the tender winner for the Serbian fuel retailer Beopetrol, the wining bid there fueling expectations of robust bidding (and a consequent buyout price) for the Czech state’s 63% stake in the Unipetrol petrochemical group. We believe the market will continue to rise in the coming days, while the sellers will be mostly domestic houses and retail accounts.