Prague bourse closes strongest in three weeks

Prague bourse closes strongest in three weeks

Prague, May 20 (CTK) - The Prague Stock Exchange (BCPP) rose for the fifth consecutive day today, its headline PX index adding 0.46 percent to 2,563.99 points, closing at its highest level in three weeks, according to data from the bourse's website.

The Prague Stock Exchange continues its strong run, and Western European markets also performed well, said broker Barbora Zelena of Wood & Company. "Trading volume increased slightly, but remained below average. In total, shares worth approximately CZK590m were traded today," she said.

On the BCPP's Free Market, arms manufacturer CSG firmed by 9.16 percent to CZK456.30 per share, the highest closing value since the end of April. The company reported positive financial results for the first quarter and confirmed its outlook for this year as well as its medium-term outlook, analysts noted.

Energy group CEZ shares strengthened by 1.38 percent to CZK1,319.

Among bank stocks, Moneta Money Bank rose by 0.97 percent to CZK187.80 per share. Komercni banka shares, on the other hand, fell by 0.30 percent to CZK990, while Erste Bank shares remained unchanged at CZK2,364 apiece. Insurer VIG declined by 1.50 percent to CZK1,572.

Shares of arms manufacturer Colt CZ decreased by 0.19 percent to CZK1,056 ahead of Thursday's results report.

Engineering firm Doosan Skoda Power dropped 0.63 percent to CZK397 per share.

On the other hand, shares of drone manufacturer Primoco UAV performed well, rising by 3.24 percent to CZK828 crowns, maker Kofola gained 1.61 percent to CZK506, and metallurgical company Gevorkyan added 1.01 percent to CZK200.

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