Cesky Telecom recovered some of its losses on Thursday and gained 5.5% in heavy trading driven by both domestic and international accounts. The stock traded in a range of CZK 558-610.40 with a total of 864,000 shares changing hands. The market obviously believes that news of KPN not participating in the upcoming privatization of Cesky Telecom does not fundamentally hurt the stock, as new prospective investors will likely emerge. Komercni also stabilized yesterday, up 1.26%, at CZK 887, and CEZ gained 1% after market players changed short positions from Wednesday. Total volume Thursday reached USD 17.96 mil. and the PX-50 index added 2.12%.