Prague Stock Exchange loses ground, pulled down by banks, CEZ

Prague, July 4 (CTK) - The Prague Stock Exchange's (BCPP) headline PX index fell by 0.62 percent to 2,151.87 points today, dragged down by shares of energy group CEZ and the entire banking sector amid low market activity, according to the bourse's website.

Among bank listings, Erste Group Bank was the worst performer, down 1.1 percent to Kc1,752. Komercni banka lost 0.86 percent to Kc1,038 and Moneta Money Bank wrote off 0.55 percent to Kc144. Insurance company VIG also lost ground.

CEZ fell by 0.57 percent to Kc1,217.

By contrast, arms maker Colt CZ appreciated 0.7 percent to Kc720. Metallurgical company Gevorkyan rose by 1.9 percent to Kc214, tobacco company Philip Morris CR by 0.11 percent to Kc17,460 and beverage company Kofola by 1.31 percent to Kc541.

Kofola was the best performer of the whole week on the Prague market. It has been trading ex-dividend since Thursday. "The post-dividend depreciation was really only cosmetic and has long since been eliminated. Kofola broke the Kc500 mark halfway through last week and is now almost in the mid-six hundreds. The key to growth, in our view, is a strong outlook," said Komercni banka analyst Bohumil Trampota.

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