Prague Stock Exchange strengthens for ninth time in row

Prague, Oct 22 (CTK) - The Prague Stock Exchange (BCPP) gained ground for the ninth consecutive day today, the PX index rising by 0.23 percent to 1,631.26 points and further improving on its long-term highs since mid-June 2008, according to the bourse's website.

The index was last higher on June 17, 2008, when it reached 1,633.60 points.

Energy group CEZ in particular fared well today, gaining 1.62 percent to Kc878.

"Moneta (Money Bank) shares gained 0.52 percent to Kc115.40, but they even traded at Kc116 today. The title appears to continue to benefit from the bank's board of directors' plan to pay an extraordinary dividend, which was announced late last week," said Wood & Company broker Vladimir Vavra.

Austrian insurer VIG gained 0.39 percent to Kc774, while Erste Group Bank wrote off 0.87 percent to Kc1,254 and Komercni banka was flat at Kc814.

Among other listings, only arms maker Colt CZ gained slightly, up 0.17 percent to Kc606.

Beverage maker Kofola lost 0.3 percent to Kc332, metallurgical company Gevorkyan weakened by 1.54 percent to Kc256 and tobacco firm Philip Morris wrote off 0.25 percent to Kc16,000.

"(Solar power plant maker) Photon Energy's shares posted a relatively significant drop of 5.57 percent to Kc33.05," Vavra noted.

hel/er