The market in Prague continued in a correction on Thursday, losing 1.04% to close 483.30 points as measured by the PX-50 index. Cesky Telecom and Komercni banka were the day’s losers. Cesky Telecom lost 2.52% to CZK 522.50; the stock traded in a mild volume of only 342,840 shares. Komercni banka experienced further decline, closing at CZK 927, down 2.63% on the day. We see no buyers of any size in KB at the moment, and a decent-sized sell order would likely hurt the stock further. At the same time, the stock may recover as the due diligence process progresses and initial bids are submitted (by early March). Total trading volume reached USD 13.70 mil. on Thursday. For today, we expect Prague to trade in line with major European bourses; opening levels are likely to be higher given the NASDAQ rally yesterday.