BCPP firms, CEZ share price fluctuating after minister's remarks

BCPP firms, CEZ share price fluctuating after minister's remarks

Prague, Jan 30 (CTK) - The Prague Stock Exchange's (BCPP) PX index added 0.35 percent to 1,450.49 points today, with CEZ's share price fluctuating by tens of Czech crowns during the day after the statements of Deputy Prime Minister Vit Rakusan about the state buying out minority shares, according to the bourse's website.

The vast majority of today's total volume of trading on the stock exchange consisted of transactions with the semi-state energy group CEZ's shares. Their price initially climbed by more than 3 percent from Monday's Kc876 to Kc904.50. In the afternoon, however, it gradually fell again, and in the end, CEZ securities added only 0.46 percent to Kc880 today.

"The development of CEZ shares was the most eventful today. Their trading was influenced by Monday's remarks by Interior Minister Vit Rakusan," said Vladimir Vavra, a broker at Wood & Company.

Rakusan said during a meeting with citizens of Sokolov, western Bohemia, on Monday evening that the government was discussing a buyout of CEZ's minority shareholders. The state holds about 70 percent of the shares in the company. Asked when the state would buy out CEZ, the deputy prime minister said he hoped the current cabinet would be able to do so. He later wrote on the X network that he had given incorrect information in the heat of the debate.

Today, Prime Minister Petr Fiala criticised Rakusan for his statements. "Apparently, in the heat of the discussion, he did not realise how much responsibility he was taking on. Especially with respect to a company that is publicly traded on the stock exchange," Fiala posted on X.

Austria's Erste Group Bank gained the most of the BCPP's blue chips today, adding 1.49 percent Kc997. The biggest loser was insurer VIG, which wrote off 1.21 percent to Kc652.

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