BCPP grows in Q1, PX up 7.2 pct

BCPP grows in Q1, PX up 7.2 pct

Prague, March 28 (CTK) - Shares on the Prague Stock Exchange (BCPP) have been performing well so far this year, the headline PX index adding 7.2 percent to 1,515.2 points in Q1, with Komercni banka shares gaining the most, while power utility CEZ was the biggest loser, Wood & Company broker Vladimir Vavra told CTK.

The PX index rose above 1,500 points at the end of March, ending the quarter at its highest level since the end of June 2008,

"The stock market has been driven since the beginning of the year by bank titles, which have benefited from investors' expectations that interest rates will fall this year. Inflationary pressures are gradually fading," Vavra said. On the other hand, CEZ shares faced pressure from investors during the quarter due to falling electricity and emission allowance prices, he added

Komercni banka has grown by 15.94 percent to Kc840 per share since the beginning of the year. CEZ, on the other hand, has lost 12.68 percent to Kc837.

In March alone, the PX index rose by 3.98 percent. The best performer was Erste Bank with a rise of 11.42 percent, while pharmacy chain Pilulka recorded the steepest drop of 10.04 percent.

Drone maker Primoco, which started trading on the BCPP in late January, lost 25.62 percent to Kc915 during February nd March.

tam/er