Prague bourse loses 2.95 pct, CEZ down more than 11 pct

Prague, Jan 20 (CTK) - The Prague Stock Exchange (BCPP) accelerated its decline today, its PX index falling by 2.95 percent to 2,650.35 points, and shares of energy group CEZ lost over 11 percent, according to the bourse's website.

Among the main listings, only beverage maker Kofola recorded an increase.

"Trading on the Prague Stock Exchange today mirrored developments abroad, with major global markets falling," said Martin Singer from Fio banka. Wood & Company broker Tomas Hazucha said that the PX index fell below 2,700 points for the first time this year. According to him, trading volume was high, exceeding CZK2.25bn.

CEZ shares wrote off 11.33 percent to CZK1,135. According to Singer and Hazucha, the drop may be linked to a weekend statement by Industry and Trade Minister Karel Havlicek, in which he confirmed the government's plan to nationalise the company. Investors may be unsettled by the fact that the nationalisation process is expected to take 18 to 24 months, Hazucha said. Some investors may also have sold CEZ shares to free up space for buying shares of defence company Czechoslovak Group, which are set to begin trading on the Amsterdam stock exchange on Friday, Hazucha added.

Insurer VIG fell by 2.21 percent to CZK1,592, Moneta Money Bank lost 1.22 percent to CZK194.40, Erste Bank declined by 0.63 percent to CZK2,508, and Komercni banka dropped 0.41 percent to CZK1,215. Shares of arms maker Colt CZ decreased by 2.19 percent to CZK758, drone manufacturer Primoco wrote off 2.61 percent to CZK1,120, and engineering firm Doosan Skoda Power lost 1.66 percent to CZK415.

Shares of beverage maker Kofola rose by 0.31 percent to CZK480. The company today announced it is acquiring natural cosmetics maker Nobilis Tilia. Among stocks outside the main market, tobacco company Philip Morris gained 0.52 percent to CZK19,360.

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