The PX-50 index strengthened again yesterday and rose 0.79% to 588.5 points. Erste Bank reported stronger-than-expected HI 2003 results and gained over 2.3% in Prague (the stock is also listed on the Vienna Stock Exchange). Cesky Telecom, one of our favored stocks at present, finally topped CZK 280, a price at which it had met resistance, on a healthy volume exceeding 1 mil. traded shares. We may yet see the further appreciation of this fundamentally strong blue chip in the coming days. Other names traded sideways, with no particular volatility or news. Volume in the SPAD trading system reached USD 28.49 mil.