The market closed down as all blue chips declined, the only exception was Philip Morris. PMCR finished above the CZK 9,900 level after it got lifted at the end of trading due to closing of short position. The total volume traded was very low - about the half of the long-term averages. The most traded was CEZ, but only 363k shares went through the market. Komercni banka was the second most actively traded name and closed below CZK 4,300 because of foreign accounts. UBS started to cover real estate developer Orco with Buy recommendation and target price of EUR 141 (CZK 3871) per share. The stock did not react to this news closing with today’s sentiment at EUR 110.75 (CZK 3,055).