The Czech market took nosedive influenced by the global sentiment. The main PX Index fell by 1.7%. and real estate sector were hit hard in-line with trading in Vienna and the other real estate names in the region respectively. CEZ rallied after open on the back of good 3Q07 results and raised guidance for 2007 by 18%, but optimism didn’t last long and the stock was traded in the red territory for the most of the day. Some buyers appeared in the afternoon and CEZ managed to finish with almost 0.5% gain. CEZ was the best performer of the day and also the only listing closing up in SPAD. declined as Raiffeisen downgraded its recommendation to Hold form Buy with the target price of CZK 980 per share lowered from CZK 1,442.