Prague Stock Exchange sees modest gains in fourth week

Prague, Jan 26 (CTK) - The Prague Stock Exchange (BCPP) strengthened slightly in the fourth week of this year and the PX index rose 0.4 percent to 1,447.4 points, the bourse said on its website.

The biggest drop was suffered by shares of energy group CEZ, while Austrian banking group Erste saw the largest gain.

In the previous week, the market decreased by 1.1 percent, while for the full year 2023, the PX index increased by 17.67 percent to 1,414 points.

"The bourse only needed two growth days in the week to achieve positive results, namely Wednesday and Thursday," Wood & Company broker Lukas Novotny told CTK.

Erste shares appreciated by 2.67 percent to Kc988.20, rising for the sixth week in a row.

Moneta Money Bank followed, with shares posting a rise of 2.41 percent to Kc97.70, said Novotny. Austrian insurer VIG improved by 2.08 percent to Kc664.

Komercni banka increased by 0.4 percent to Kc746, solar plant builder Photon Energy added 0.4 percent to Kc50.50, pharmacy chain Pilulka closed 0.38 percent stronger at Kc266, and tobacco company Philip Morris grew by 0.25 percent to Kc16,040 apiece.

CEZ, on the other hand, weakened by 4.67 percent to Kc877 per unit. The company is losing value for the third week in a row and is trading 8.5 percent lower since the beginning of the year, said Novotny.

Arms maker Colt decreased by 4.03 percent to Kc572, and soft drinks maker Kofola lost 1.44 percent to Kc273 per share.

vr/er