Prague bourse firms, boosted by banks

Prague, April 1 (CTK) - The Prague Stock Exchange (BCPP) firmed today, the PX index adding 1.72 percent to 2,553.02 points at the close, driven by higher prices for banking stocks Erste, Komercni banka, and Moneta, according to data on the exchange's website.

"The Prague Stock Exchange continued to rise today in line with positive sentiment on global markets regarding the possibility of an early end to the conflict in the Middle East, as US President Donald Trump said the conflict with Iran could end within two to three weeks," said Wood & Company broker Barbora Zelena.

Most of the major stocks on the BCPP saw gains. The biggest gainer was the defence and engineering group CSG, which rose by 6.62 percent to CZK612. This helped offset the decline of recent days, during which its price had fallen by nearly a fifth in less than a week to CZK574 on Tuesday.

Bank stocks saw the highest trading volume and were also among the gainers. Erste Group grew by 1.70 percent to CZK2,328, Komercni banka gained 2.59 percent to CZK1,107, and Moneta Money Bank firmed by 2.65 percent to CZK189.50.

Of the 14 major stocks, only two saw their prices fall today. The biggest decline was recorded by shares of drone manufacturer Primoco UAV, which fell by 4.18 percent to CZK848.

Shares of energy company CEZ also fell, dropping 0.92 percent to CZK1,189.

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