Prague bourse dips below 2,500 pts, lowest level this year

Prague, March 27 (CTK) - The Prague Stock Exchange (BCPP) fell below the 2,500-point mark at the end of the trading week, as it did on Tuesday, its PX index losing 1.21 percent to 2,482.64 points, the lowest this year, according to data on the stock exchange website.

Shares of the arms maker Czechoslovak Group (CSG) fell the most. Financial titles also lost ground.

According to analysts, nervousness persists on global stock markets regarding further developments in the Middle East, a sentiment that was also reflected in the negative mood on the Prague bourse.

CSG shares suffered the biggest drop today, falling by 10.08 percent to CZK580. In two days, the stock has lost nearly 17 percent of its value, said Martin Singer of Fio Bank. Today, the company's shares traded on the Amsterdam Stock Exchange for the first time at a price lower than the offering price, namely EUR25 (CZK614) per share. At the same time, CSG lost its position as the most valuable domestically traded company in terms of market capitalisation, a title now held once again by the energy company CEZ. CSG shares have fallen by nearly a quarter since trading began in Amsterdam two months ago.

Erste Bank shares also closed in the red, falling by 1.79 percent to CZK2,250. Moneta Money Bank shares declined by 0.65 percent to below CZK183.80, and Komercni banka shares weakened by 0.19 percent to CZK1,074. Insurer VIG lost 2.63 percent to CZK1,480.

In contrast, CEZ shares rose, albeit only slightly, adding 0.09 percent to CZK1,167.

Shares of the arms manufacturer Colt CZ rose by 1.35 percent to CZK904. Engineering company Doosan Skoda Power firmed by 3.15 percent to CZK393.

The BCPP reached its highest level to date in early February, when the PX index hit 2,804.83 points.

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