Czech shares soar as PX index adds 19.7 pct in Q1

Prague, March 31 (CTK) - Czech shares grew significantly in the first quarter of this year, surpassing record highs as the Prague Stock Exchange's (BCPP) headline PX index rose by 19.7 percent to 2,106.5 points from the beginning of the year to the end of March, Wood & Company broker Lukas Novotny told CTK today.

Shares of insurance group VIG gained the most, while solar power plant builder Photon Energy was the biggest loser.

In 2024, the Prague Stock Exchange grew by 24.5 percent.

"The stock exchange continued its growth from the end of last year. The Prague Stock Exchange started this year's trading at 1,760.17 points, but then it grew rapidly and on February 18, it went above 2,000 points for the first time in its history. A week ago, it surpassed the 2,100-point mark for the first time, and the highest closing value so far was recorded on Thursday, March 27, at 2,145.41 points," said Wood & Company broker Vladimir Vavra.

Contributing factors included the composition of the PX index, which is dominated by banks, Vavra said. Banks have been the drivers of the positive development on the Prague Stock Exchange so far.

Since the beginning of the year, VIG shares have surpassed the Kc1,000 mark and gained 34.66 percent to Kc1,018. Following close behind is Komercni banka, which has also surpassed the Kc1,000 mark this year, adding 31.64 percent to Kc1,117. Energy group CEZ added 19.44 percent to Kc1,143.

Moneta Money Bank gained 18.26 percent to Kc146.40, beverage maker Kofola added 13.78 percent to Kc446 and arms maker Colt firmed by 8.52 percent to Kc726. Erste Group Bank also fared well, rising by 7.57 percent to Kc1,599, while tobacco company Philip Morris added 6.67 percent to Kc17,900.

Engineering company Doosan Skoda Power shares started trading on the main market of the Prague Stock Exchange at the beginning of February at Kc240. Since then, they have gained 35.42 percent to Kc325.

Photon Energy has been the worst performer so far this year, losing 7.17 percent to Kc22. Drone maker Primoco weakened by 3.89 percent to Kc865 and metallurgical company Gevorkyan lost 3.68 percent to Kc262.

In March alone, the Prague Stock Exchange was up 6.62 percent. VIG was the best performer, up 13.49 percent, while Photon Energy shares recorded the biggest loss, down 5.98 percent.

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