The market closed in red numbers dragged down by CEZ. CEZ had almost 2/3 of total volume and balanced around CZK 800 level. Zentiva jumped after international demand and CZK 1,140 level seems to be a resistance for time being. Telefónica O2 CR increased on the back of positive movement of Matav after it called EGM. Orco gained supported by news that Erste opens real estate fund in the 4th quarter.
CEZ posted little bit weaker 2Q06 results than expected in all aspects. Company increased its FY06 net income guidance by CZK 800m to CZK 28bn. CEZ holds conference call at 4:00pm London time.