Prague Stock Exchange grows in week 33

Prague Stock Exchange grows in week 33

Prague, Aug 14 (CTK) - The Prague Stock Exchange (BCPP) grew for the fourth week in a row over the past week, with the PX index adding 0.18 percent to 2,790.04 points, and it was led by shares of solar power plant builder Photon Energy, while insurer VIG saw the biggest decline, according to the bourse's website.

The PX index rose by 2.9 percent in the previous week.

"The Prague Stock Exchange performed well again last week, extending its gains to four weeks in a row. The exchange rose in three of the week's five sessions, declining only on Monday and Tuesday. Investor activity was below average during the week, with trading volumes coming close to the long-term daily average only on Monday," Wood & Company broker Hoang Long Le told CTK.

Photon Energy shares gained 12.19 percent to CZK7.18 over the past week. They were followed by shares of defence group CSG, which rose by 7.65 percent to CZK475.40, their highest closing price since May 21. CSG recorded its fifth straight week of gains, according to Komercni banka analyst Bohumil Trampota. The rise is probably a reaction to last week's quarterly results and newly announced contracts, he said.

Erste shares added 1.95 percent to CZK2,974, while shares of beverage maker Kofola grew by 1.2 percent to CZK507. Shares of drone manufacturer Primoco increased by 1.11 percent to CZK728, while shares of metallurgical company Gevorkyan rose by 1.08 percent to CZK187. Komercni banka shares added 0.57 percent to CZK1,051, while Moneta shares gained 0.46 percent to CZK197.90.

VIG shares recorded the biggest loss, falling by 4.42 percent to CZK1,687. Shares of arms maker Colt dropped 0.61 percent to CZK979, while shares of energy group CEZ declined for the first time in eight weeks, losing 0.37 percent to CZK1,364. "CEZ reported its second-quarter results, which we consider strong. However, the share price fell after the report, wiping out a solid gain at the beginning of the week. Investors probably took profits after the previous strong rise," Trampota said.

Shares of tobacco company Philip Morris ended their previous six-week winning streak, decreasing by 0.32 percent to CZK18,700. Shares of engineering firm Doosan Skoda Power wrote off 0.2 percent to CZK502.

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