The PX-50 index rallied to 429.4 points on Friday (+3.25%) as interest in banking titles spurred aggressive buying. Following the early-morning news of an intended buyout offer by AVS for Ceska sporitelna stock (at CZK 375 per share), investors quickly focused on Komercni banka. KB peaked at CZK 1,569 on Friday, on a heavy volume of more than USD 33 mil. (the title’s largest volume since February 2000). Trading in Sporitelna was suspended Friday in the morning, but the title traded up to CZK 390 per share once trading was resumed the same day. Total market volume reached USD 60.8 mil.
(Milan Prochazka)