Shares on the Prague Stock Exchange continue to grow strongly this year. The PX index rose by 19.7 % to 2106.5 points from the beginning of January to the end of March. Shares of insurance company VIG posted the biggest gains, while Photon Energy recorded the biggest decline. This was reported by Wood & Company broker Lukáš Novotný. Last year, the stock market gained 24.5 % overall.
According to another broker Vladimír Vávra, the stock exchange has continued its positive development from the end of last year. Trading in January started at 1,760.17 points, but on 18 February the index surpassed the 2,000-point mark for the first time in history. A week later, it went above 2,100 points and recorded its highest closing value of 2,145.41 points on 27 March.
The growth is mainly driven by banking titles, which dominate the PX index. Komerční banka and Moneta both announced improved earnings outlooks and attracted investors with attractive dividends.
VIG shares have risen 34.66 % to CZK 1018 since the beginning of the year. Komerční banka follows closely with a rise of 31.64 % to CZK 1,117. CEZ shares have gained 19.44 % to CZK 1,143. Moneta improved by 18.26 % to CZK 146.40, Kofola by 13.78 % to CZK 446 and Colt CZ by 8.52 % to CZK 726. Erste rose by 7.57 % to CZK 1,599 and Philip Morris by 6.67 % to CZK 17,900.
The newly traded shares of Doosan Škoda Power, which went public in February at CZK 240, have already risen by 35.42 % to CZK 325.
At the other end of the spectrum so far this year is Photon Energy shares, which have written down 7.17 % to 22c. Primoco (-3.89 % to CZK 865) and Gevorkyan (-3.68 % to CZK 262) have also lost slightly.
March alone brought an index rise of 6.62 %. VIG shares (+13.49 %) were the best performer, while Photon Energy (-5.98 %) suffered the biggest decline.
The positive trend is not only a privilege of the Czech market. According to Vávra, most major European indices are also rising. The German DAX has gained over 10 % since the beginning of the year, the French CAC 40 has gained about 5 % and the British FTSE 100 has risen by 3.5 %. Meanwhile, US stocks are experiencing the opposite development - the S&P 500 index has fallen by 6 % and the technology Nasdaq has lost 12 %.
GN / gnews.cz
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