Erste continues to outperform the market following a broker upgrade, Komercni banka test CZK 3,400 resistance and seems it may move higher ahead of its results. We expect almost 5% drop in CETV on the open as we will be closing US arbitrage gap with Nasdaq Close. CME closed 0.5% lower following series of downbeat earnings from the Polish media companies Agora and TVN yesterday. Cesky Telecom continues to move sideways with no particular trend and lack of news.