Prague bourse hits record high this year

Prague, Dec 30 (CTK) - Shares on the Prague Stock Exchange (BCPP) rose significantly this year, with the headline PX index gaining 52.6 percent to a record 2,685.65 points, showing the biggest rise since 2004 when the market grew by almost 57 percent, Wood & Company broker Hoang Long Le told CTK today.

Insurer VIG rose the most this year, while solar power plant builder Photon Energy lost the most. Over the whole of 2024, the BCPP rose by 24.5 percent.

"The Prague Stock Exchange performed exceptionally well this year and was one of the best-performing markets in the world," said Hoang Long Le. According to him, the whole year was marked by record-breaking performances, including on the last trading day of this year.

Among other things, the composition of the PX index, which is dominated by banking stocks, contributed to the record values. These stocks, along with VIG shares, were the driving force behind the year-long growth, he added.

The Prague market started trading this year at 1,760.17 points. The stock exchange then grew rapidly, and on February 18, it exceeded 2,000 points for the first time in its history, followed by 2,300 points on August 14. The bourse exceeded 2,400 points on November 3 and 2,600 points on December 17.

"Including dividends, the appreciation is 61.34 percent," Komercni banka analyst Bohumil Trampota noted.

The total trading volume this year increased significantly. It reached almost Kc170bn, which is a year-on-year increase of almost 57 percent.

Energy group CEZ, Erste Group, and Komercni banka shares accounted for the largest share of the total volume this year.

VIG shares began to strengthen significantly in the last months of the year, influenced by the positive economic outlook. The stock added 115.34 percent to Kc1,628.

Engineering company Doosan Skoda Power followed, growing by 73.54 percent to Kc416.50. The stock entered the main market of the stock exchange on February 6 this year.

Banking stocks followed. Erste shares strengthened by 66.5 percent to Kc2,475 this year, Moneta grew by 56.22 percent to Kc193.40, and Komercni banka added 36.95 percent to Kc1,162.

CEZ shares gained 35.32 percent during the year to Kc1,295. Bevarge maker Kofola firmed by 23.34 percent to Kc483.50, drone maker Primoco rose by 22.22 percent to Kc1,100, and arms manufacturer Colt increased by 10.76 percent to Kc741. Tobacco company Philip Morris appreciated by 10.37 percent to Kc18,520.

Conversely, Photon Energy shares performed worst among PX index members, falling 55.02 percent to Kc10.66.

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