The market closed lower extending previous negative performance. The trading was really nervous as investors waited for Citigroup results and US macrodata. The volume traded was above the long term averages as trading during the day was quiet and picked up again at the end of the session when supporting buy orders started coming in. Telefonica O2 CR closed below CZK 520 because of ongoing selling pressure form foreign accounts. CEZ did not see any support coming from upgraded target prices from Citi at RWE and E.ON. CEZ finished below the CZK 1,203 level which was in-line with the sentiment in CEE markets.