The Czech market finished lower due to sell-off on CEZ. Almost 60% of total volume traded in SPAD went through CEZ. Big international buyers managed to defend psychological level of CZK 1,300 on CEZ. Trading with banks was also active. Banks gained on improved sentiment in financial sector. headed higher copying Vienna trading. got hit hard after the open on the back of lowering target price to CZK 850 at Deutsche and downgrade to accumulate from buy at Erste with target price of CZK 1,090, but recovered nicely and closed day with 1% gain. We could see similar story on after reporting 3Q07 which came in slightly lower than expected.