The Prague PX-50 index rose modestly (+0.27%) on Monday, once again in line with developments on major markets. However, selected stocks were under selling pressure as some investors took profits. Profit taking was most apparent in Komercni banka, which lost 4.44% at CZK 833.30, despite encouraging news of a possible CZK 4 bil. insurance claim related to the 1999 B.C.L. fraud (the damage totaled CZK 8 bil.). CEZ was also under selling pressure, losing 3.99% to close at CZK 92.84. The stock has recently traded on a low volume of only 500,000 shares per session, vs. last month’s average of 1.5 mil. shares per session. We expect CEZ to trade in a CZK 90-100 range in the short term. Total trading volume reached USD 12.73 mil. on Monday.