Prague Bourse Calms Down after Record, PX Gains 0.1 Per Cent

19. Juni 2006, 00:00

The Prague Stock Exchange  (BCPP) did not repeat Thursdays rocket growth on Friday but despite many orders to...

The Prague Stock Exchange (BCPP) did not repeat Thursdays rocket growth on Friday but despite many orders to sell grew for the third time in a row as the PX index added 0.11 per cent to 1,278.3 points, the bourse announced.

Media group CME was the most successful with a 6.25-per-cent gain to CZK 1,309 (EUR 46.11).

After the start of trading, it looked like Thursdays scenario, when the index rose the most since its introduction over twelve years ago, would continue. However, the initial growth of over 4 per cent started to vanish soon afterwards as high short-term yields were too attractive.

"Trading was hectic after the opening and purchases clearly prevailed, market makers had problems with keeping the time limit for the renewal of market quotations. Later sellers started to appear and to take profits," said Tomas Machalicky of the firm Cyrrus.

CME growth was an exception. The second most successful real estate company Orco improved by 1.42 per cent. Komercni banka and CEZ gained over 1 per cent each. In contrast, Erste bank of Austria slid by 2.25 per cent to CZK 1,173 (EUR 41.32).

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