Prague bourse weakens in week 13, PX index down 2.3 pct

Prague, March 27 (CTK) - The Prague Stock Exchange (BCPP) weakened over the past last week, with the PX index falling by 2.3 percent to 2,482.6 points, the lowest level since last November, according to data from the stock exchange website.

The best-performing stock of the week was Erste Bank, while shares of the energy company CEZ saw the biggest decline.

In the previous week, the PX index gained 1 percent.

"The Prague Stock Exchange was struggling over the past week. The market was influenced all week by news regarding the conflict in the Middle East, oil prices, and the possibility of a prolonged disruption to supply routes from the region. The market posted gains only on Wednesday. It thus ended the week at its lowest level since November 25 of last year," said Hoang Long Le, a broker at Wood & Company.

Erste shares rose by 2.18 percent to CZK2,250, ending their previous four-week decline. They were followed by shares of the Colt arms manufacturer, which added 2.15 percent to CZK904, and the solar power plant builder Photon Energy, which grew by 1.92 percent to CZK7.45. Engineering company Doosan Skoda Power rose by 0.26 percent to CZK393.

In contrast, CEZ shares fell by 4.89 percent to CZK1,167. Komercni banka followed at a distance, falling by 2.98 percent to CZK1,074. Insurer VIG shares shed 1.99 percent to CZK1,480, Moneta Money Bank lost 1.29 percent to CZK183.80, and tobacco company Philip Morris erased 0.83 percent to CZK19,100.

Beverage company Kofola also struggled, losing 0.65 percent to CZK458.50, as did drone maker Primoco, which slid by 0.56 percent to CZK890. Metallurgical company Gevorkyan weakened by 0.52 percent to CZK190.

Arms maker CSG also saw a sharp decline this week. On the Prague Free Market, its stock fell by 13.2 percent to CZK580. On the domestic market in Amsterdam, it lost as much as 15.45 percent. The title has been falling for the third week in a row, and its value has dropped below the January level at the time of its IPO, Komercni banka analyst Bohumil Trampota noted.

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