BCPP down modestly due to Austrian stocks Erste, VIG

BCPP down modestly due to Austrian stocks Erste, VIG

Prague, March 17 (CTK) - The Prague Stock Exchange's (BCPP) PX index edged down 0.08 percent to 1,317.55 points, pulled down by shares of Austria's Erste Bank and Austrian insurer VIG, the bourse said on its website.

Conversely Czech banks Komercni banka and Moneta Money Bank and energy group CEZ closed in the black.

The PX index lost 4.26 percent over the week. Trading was affected by uncertainty in the banking sector.

Western European bourses opened today's session in positive territory as major US banks agreed on Thursday to provide aid to First Republic Bank. "However, the positive sentiment gradually faded and in the afternoon most European indices swung into negative territory," said Fio banka broker Josef Dudek.

The Prague market gained 1.3 percent at one point today, but eventually posted a slight loss.

Market activity was high. The total trading volume exceeded Kc1.7bn. "One billion was traded in the final auction as the new PX index base comes into force from Monday," Dudek said.

CEZ shares made up more than Kc1bn of the trading volume, rising by 1.08 percent to Kc1,026 per unit.

Moneta Money Bank improved by 1.59 percent to Kc83 and Komercni banka traded 1.4 percent higher at Kc690.50.

Pharmaceutical chain Pilulka was the day's top gainer, its securities adding 4.84 percent to Kc650.

On the other hand, VIG was the worst performer, writing off 3.26 percent to Kc564 apiece.

Erste Bank erased 1.66 percent to Kc713.

Shares in tobacco company Philip Morris CR and soft drinks group Kofola also ended in the red.

vr/er

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