Prague Stock Exchange weakens in week 16 after six weeks of growth

Prague Stock Exchange weakens in week 16 after six weeks of growth

Prague, April 19 (CTK) - The Prague Stock Exchange (BCPP) weakened after six weeks of consecutive gains, the PX index falling by 0.6 percent to 1,550.6 points in week 16, with arms maker Colt the biggest riser and pharmacy chain Pilulka the biggest loser, according to the stock exchange's website.

In week 15, the PX index gained 2.2 percent.

The BCPP weakened in the past week even though three out of five trading sessions saw gains, namely Wednesday, Thursday and Friday, said Wood & Company broker Vladimir Vavra. However, the bourse is still at its highest levels since June 2008, he added.

Arms maker Colt's shares were the most profitable last week, rising by 1.29 percent to Kc626. During the week, the Czech antitrust office UOHS announced that it had allowed Colt to buy ammunition manufacturer Sellier&Bellot.

Tobacco company Philip Morris also performed well during the week, gaining 0.89 percent to Kc15,820. Austrian insurer VIG appreciated by 0.55 percent to Kc735 and Erste Group Bank gained 0.33 percent to Kc1,080, extending its growth streak to seven weeks. Solar power plant maker Photon Energy rose by 0.22 percent to Kc45.90.

On the other hand, Pilulka weakened by 2 percent to Kc196. Moneta Money Bank ended the previous four-week rise and fell by 1.74 percent to Kc101.80. Energy group CEZ shares also did not fare well, losing 1.25 percent to Kc872 during the week.

Komercni banka posted a loss of 1.1 percent to Kc861.50, ending a streak of five consecutive weekly gains. Beverage maker Kofola fell by 0.73 percent to Kc271.

hel/er