The Czech market strengthened the fourth day in row. The market leader was same like previous session – Erste Bank. Erste was supported by upgrade from Merrill Lynch to Buy from Hold reached its new high of the CZK 1,535. CEZ broke and closed above the CZK 850 level on the back of demand from international accounts. Also Telefonica O2 CR (Cesky Tel) showed nice performance and managed to close above the CZK 445 as the stock was in the spot light of foreign investors. Philip Morris grew the most of the day due to international buyers closed well above the CZK 11,000. Zentiva was the one of declining stocks being pushed down by downgrades to Hold from Buy.