Prague Stock Exchange Co. Ltd.

06/12/2024 | Press release | Distributed by Public on 06/12/2024 11:21

Prague bourse firms first time this week, boosted by KB, Erste

Prague bourse firms first time this week, boosted by KB, Erste

Prague, June 12 (CTK) - The Prague Stock Exchange (BCPP) today strengthened for the first time this week, its headline PX index adding 0.53 percent to 1,538.36 points, pulled up mainly by shares of Erste Bank and Komercni banka, while energy company CEZ posted a loss, according to data from the bourse's website.

Market activity was low, with trading volume reaching a below-average Kc246m.

"The stock exchange continues to follow the development on the surrounding markets, which were struggling with a decline at the beginning of the week. The turnover in Prague was mainly driven by shares in Austria's Erste, which have significantly outperformed the Western European bank sector over the last two days and have returned above Kc1,100," said Wood & Company broker Lukas Novotny.

Erste Bank shares appreciated by 1.66 percent to Kc1,105. Komercni banka rose by 0.46 percent to Kc770.50, and insurance company VIG gained 1.4 percent to Kc725.

In the financial sector, only Moneta Money Bank ended in the red, writing off 0.1 percent to Kc97.70.

The most traded title of the day was CEZ, whose shares weakened by 0.37 percent to Kc938.50.

Shares of arms manufacturer Colt CZ, beverage maker Kofola and pharmacy chain Pilulka also depreciated.

Drone maker Primoco UAV saw a collection of gains after two days of strong firming, shedding 1.03 percent to Kc960.