Prague bourse returns above 2,600 pts, mainly thanks to banks' shares

Prague, March 10 (CTK) - The Prague Stock Exchange (BCPP) rose sharply today, returning to 2,600 points after several days, and the PX index gained 1.97 percent to 2,603.05 points, driven mainly by banking sector shares, according to data from the bourse's website.

Market activity was above average, with total trading volume exceeding CZK730m.

Western European markets also rose today. "Investor sentiment improved after US President Donald Trump said the conflict with Iran could end soon," said Wood & Company broker Barbora Zelena.

In Prague, Erste Bank shares performed particularly well, gaining 4.03 percent to CZK2,374 after previous significant losses. Komercni banka rose by 2.42 percent to CZK1,141, while Moneta Money Bank increased by 1.28 percent to CZK190. Insurer VIG's shares added 3.56 percent to CZK1,572.

Arms manufacturer Colt CZ lost 1.57 percent to CZK880. "The company announced today its intention to list on the Dutch Euronext Amsterdam exchange," Zelena said.

Engineering company Doosan Skoda Power dropped 0.75 percent to CZK399, tobacco firm Philip Morris CR wrote off 0.41 percent to CZK19,600, and metallurgical company Gevorkyan declined by 0.85 percent to CZK234.

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