Prague Stock Exchange weakens, dragged down by Moneta

Prague Stock Exchange weakens, dragged down by Moneta

Prague, April 30 (CTK) - The Prague Stock Exchange's (BCPP) headline PX index dropped 0.12 percent to 1,548.85 points today, dragged down mainly by Moneta Money Bank and Austrian insurer VIG, while most other blue chips performed well, according to the stock exchange's website.

The market will reopen on Thursday as Wednesday is a public holiday.

"The Prague Stock Exchange did not maintain Monday's positive trend and weakened. While the shares of CEZ, Erste and Komercni banka tried to keep the stock exchange in the black, it was dragged into the red practically only by the shares of Moneta with the help of VIG," said Wood & Company broker Lukas Novotny.

Moneta securities lost 2.36 percent today and closed trading at Kc95.10. VIG wrote off 0.81 percent to Kc734.

Other major titles rose or stagnated. Energy group CEZ gained 0.64 percent to Kc870. The Czech Republic today received permission from the European Commission for public financial support for the construction of a new nuclear unit at the Dukovany power plant. At the same time, the deadline for the submission of binding bids for the construction of up to four nuclear reactors in the Czech Republic has passed and bids have been submitted by France's EDF and Korea's KHNP.

Austria's Erste Group Bank first weakened by more than 1.7 percent after today's release of Q1 results, but gradually recovered losses over the rest of the day, eventually closing 0.23 percent stronger at Kc1,110.

Komercni banka shares also closed in the black, rising by 0.52 percent to Kc869.50. Arms maker Colt gained 1.41 percent to Kc649 and solar power plant maker Photon Energy added 0.9 percent to Kc44.90.

Tobacco company Philip Morris ended trading unchanged at Kc16,000. The company's general meeting today decided that the company will pay out a dividend of Kc1,220 per share for last year. Shareholders received Kc1,310 for the previous year. The firm's net profit fell by 8 percent year-on-year to Kc3.3bn last year.

From the beginning of the year to the end of April, the PX index rose by 9.5 percent. Erste Bank shares appreciated the most, while pharmacy chain Pilulka was the biggest loser. The PX index was above the 1,500-point mark at the end of March, and at the end of April, it was at its highest level since the end of June 2008, Novotny told CTK.

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