Prague Stock Exchange weakens for second day in row

Prague Stock Exchange weakens for second day in row

Prague, April 25 (CTK) - The Prague Stock Exchange (BCPP) weakened for the second consecutive day, the PX index falling by 0.32 percent to 1,558.62 points today with Komercni banka and Erste Bank posting losses, while energy group CEZ broke its several-day decline, according to the stock exchange's website.

Most of the financial sector closed in the red. Austria's Erste Group Bank wrote off 0.49 percent to Kc1,113.50 and insurer VIG fell by 0.93 percent to Kc743.

Komercni banka lost 0.92 percent to Kc861.50. Komercni banka's shareholders approved the board's proposal to pay out a dividend of Kc82.66 per share before tax from last year's profit at a general meeting on Wednesday.

Moneta Money Bank, which published its first quarter results today, gained 0.39 percent to Kc103.40. "This is the sixth non-declining session in a row," Komercni banka analyst Bohumil Trampota noted.

Moneta said today its Q1 net profit rose by 5.8 percent year-on-year to Kc1.3bn. The result is in line with the bank's expectations and was mainly driven by good operating profit and lower operating costs.

Today was the last day of trading in Moneta shares with the right to receive a dividend from last year's profit. "Shareholders approved a dividend of Kc9 per share (gross yield of 8.7 percent). Ex-dividend trading will start tomorrow (Friday). It is usual that the share price will fall on that day precisely by the amount of the dividend," Trampota said.

CEZ had fallen for six days in a row, but today its shares broke that streak and rose by 0.24 percent to Kc849. Arms maker Colt CZ also improved, up 0.63 percent to Kc634.

Pharmacy chain Pilulka added 0.28 percent to Kc181.50 and Slovak industrial company Gevorkyan rose by 0.79 percent to Kc254.

hel/er

Public link

Please use the above public link if you want to share this noodl on another website.