Prague bourse achieves record high, PX index up 4.2 pct

Prague, May 9 (CTK) - The Prague Stock Exchange (BCPP) achieved its highest level in history in the past week, its PX index gaining 4.2 percent to 2,146 points, with banking group Erste recording the biggest increase and metallurgical company Gevorkyan recording the biggest loss, according to the bourse's website.

In the previous week, the PX index fell by 1.1 percent.

"The Prague Stock Exchange did well last week. The PX index ended the week at its highest closing value ever. Moreover, the week-on-week growth was the strongest since the end of March 2023," said Wood & Company broker Vladimir Vavra.

The bourse weakened only on Monday. However, it subsequently embarked on an upward trajectory mainly under the influence of Erste shares, Vavra said.

Austria's Erste, which among other things owns bank Ceska sporitelna, has agreed with Spanish bank Santander to buy a 49 percent stake in its division Santander Bank Polska. The title thus gained 18.4 percent week-on-week to Kc1,746 per share.

It was followed by Moneta Money Bank's shares, which grew by 4.84 percent to Kc143 per unit, and insurer VIG's shares, which increased by 4.55 percent to Kc1,104 per share.

Shares of engineering company Doosan Skoda Power rose by 2.8 percent to Kc331, while shares of tobacco firm Philip Morris grew by 1.01 percent to Kc17,940.

Drone maker Primoco shares rose by 0.61 percent to Kc830. Shares in beverage maker Kofola gained 0.45 percent to Kc451 and shares in arms maker Colt added 0.29 percent to Kc688.

The biggest loss was recorded by Gevorkyan, which wrote off 2.4 percent to Kc244. It was followed by Komercni banka shares, which lost 1.42 percent to Kc1,045, and semi-state energy group CEZ shares, which weakened by 0.42 percent to Kc1,191. Shares of solar power plant builder Photon Energy fell by 0.25 percent to Kc20.05.

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