The Czech market joined the rally on international markets yesterday and added 1.8% (PX-50 index). Volume was similar to the day before (USD 14.5 mil.), and once again more than two-thirds of this was in telecoms. This sector led the market up. Despite the upward trend, Cesky Telecom is still under certain selling pressure; on the other hand, Ceske Radio benefits from privatization developments. We believe that the growing optimistic sentiment on European and US markets could have a positive impact on the Czech equity market today again.