Prague bourse firms for 3rd week in row, PX up by 1.7 pct

Prague bourse firms for 3rd week in row, PX up by 1.7 pct

Prague, July 4 (CTK) - The Prague Stock Exchange (BCPP) strengthened for the third week in a row, its headline PX index rising by 1.7 percent to 1,572.2 points, with the shares of drone manufacturer Primoco growing the most, while pharmacy chain Pilulka saw the biggest depreciation, according to data from the bourse's website.

In the previous week, the PX index rose 0.9 percent.

"The Prague Stock Exchange did well in the first week of the summer holiday season. The stock exchange rose in all four trading sessions during the week and strengthened for the third week in a row. The week-on-week growth was also the strongest since May 10," said Wood & Company analyst Lukas Novotny.

Primoco shares added 9.09 percent to Kc1,020 apiece.

However, the main driver of the stock market was Erste Bank, which gained 5.43 percent to Kc1,164 per share over the week. It rose for the third week in a row, as did other banking titles.

Energy group CEZ shares gained 0.97 percent to Kc888.50, ending the previous three weeks of losses.

Tobacco company Philip Morris rose by 0.79 percent to Kc15,400, Moneta Money Bank added 0.78 percent to Kc103, Komercni banka gained 0.77 percent to Kc788.50 and insurer VIG firmed by 0.53 percent to Kc761. The last rising title was solar power plant builder Photon Energy, which put on 0.47 percent to Kc43.20.

Beverage maker Kofola and metallurgical company Gevorkyan stayed unchanged week on week, closing at Kc304 and Kc258, respectively.

Pilulka was the biggest loser of the week, depreciating by 3.5 percent to Kc124. Its shares were joined only by shares of arms maker Colt, which lost 0.74 percent to Kc672. However, Colt fell only because it started trading ex-dividend from Wednesday.

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