Prague bourse weakens for third week in row

Prague bourse weakens for third week in row

Prague, May 3 (CTK) - The Prague Stock Exchange (BCPP) weakened for the third week in a row, its headline PX index losing 1.5 percent to 1,520.2 points in the 18th calendar week, according to data from the bourse's website.

While arms maker Colt was the biggest gainer, banking title Komercni banka registered the steepest drop.

In the previous week, the PX index erased 0.5 percent.

"The Prague Stock Exchange underperformed last week for the third week in a row. The stock exchange rose in two out of four trading sessions this week. It experienced a significant decline on Friday, when Komercni banka shares traded for the first time without dividend, which led to a technical fall in the bank's share price," said Wood & Company broker Vladimir Vavra.

The best performers in the week-on-week comparison were the shares of Colt, which rose by 7.87 percent to Kc685. They have already gained 29 percent since the beginning of the year, thus taking the lead in this year's performance of stocks included in the PX index.

Insurer VIG was the only other title to post gains during the week, as it added 1.24 percent to Kc737 per share.

On the other hand, Komercni banka shares fell by 8.82 percent to Kc786 apiece. This was mainly due to Friday's price drop of more than a tenth, as the bank's shares traded for the first time without a dividend.

The shares of pharmacy chain Pilulka fell by 3.05 percent to Kc175 apiece. Solar power plant builder Photon Energy depreciated by 1.8 percent to Kc43.60, power utility CEZ slid by 0.41 percent to Kc851 and tobacco company Philip Morris erased 0.25 percent to Kc15,920.

Banking titles Moneta Money Bank and Erste also posted minor losses, down by 0.1 percent to Kc96.90 and by 0.09 percent to Kc1,115, respectively.

Beverage maker Kofola shares closed the week unchanged at Kc272.

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