Prague bourse weakens, pulled down by banks

Prague bourse weakens, pulled down by banks

Prague, May 23 (CTK) - The Prague Stock Exchange (BCPP) weakened today, its headline PX index losing 0.19 percent to 1,571.17 points at the close of trading, pulled down mainly by banking titles Komercni banka and Moneta Money Bank, according to data from the bourse's website.

Most blue chips on the Prague Stock Exchange posted losses or stagnated today.

Shares of the Erste banking group, which were traded in the largest volume, stagnated at Kc1,167 apiece.

The most traded issues also included Komercni banka and Moneta. Komercni banka fell by 0.38 percent to Kc780 and Moneta erased 1.02 percent to Kc97.30.

The stock market decline was moderated by the strengthening of the energy group CEZ, which reached the second largest trading volume among the main titles. Its shares gained 1.08 percent to Kc940.

The biggest increase was recorded by solar power plant builder Photon Energy, whose shares firmed by 1.93 percent to Kc44.80.

On the other hand, the biggest drop was seen by arms manufacturer Colt CZ, which wrote off 1.91 percent to Kc666 per share. Colt CZ Group SE (Colt CZ) announced its Q1 results today. The group's revenues rose by 21.7 percent yr/yr to Kc3.667bn, while its adjusted net profit fell by 47.8 percent to Kc359.9m.

tam/er