Prague bourse goes up again
Prague bourse recorded major gains again at the close of Wednesday’s session and was erasing its previous losses, with the headline index PX up 3.01 percent at 1,569.9 points.
Analysts suggested already on Tuesday that the situation has returned to normal for the most part after hefty losses at the beginning of the year. Wednesday’s trading confirmed it.
The PX index was pushed up mainly by bank stocks. Shares in Erste Bank rose by 5.21 percent to Kc974.20 and Komercni banka closed 4.29 percent higher at Kc3,843. Also energy group CEZ added 2.67 percent, closing above Kc1,270 after a long time.
“There was a good sentiment all across Europe. The index of European blue chips Eurofirst 300 grew by 0.4 percent. Investors showed a positive reaction to the news that US retail sales for January rose by 0.3 percent after the December decline of 0.5 percent, while the market forecast a 0.2 percent decrease. Many investors regard this as a signal that America will not fall into recession,” Next Finance head Marketa Sichtarova said today.
Despite some cautiousness especially on overseas markets, the current situation provides a chance that the worst is over for shares this year, said Josef Kohout of Patria Finance.
(CNA)
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