The PX-50 index witnessed a strong rally on Thursday after Komercni banka´s Board of Directors proposed a substantially larger dividend than expected. The market expected KB to pay a dividend in the CZK 50-60 range but the bank came with a CZK 200 per share proposal that helped the stock to rally up by 5% to CZK 3,000. Other names traded up in sympathy, CEZ gained 2.4% and Erste Bank added over 2% on the day. Volume in the SPAD reached EUR 39.7m.
Milan Prochazka