PX Index
Encyclopedia
The PX Index is an index of major stocks that trade on the Prague Stock Exchange
. Selected as the starting exchange day (a benchmark date) for the Index PX 50 was 5 April 1994 and its opening value was fixed at 1,000 points. At this time the index included 50 companies traded on the Prague Stock Exchange, accordingly named PX 50.
After an initial boom encouraged by voucher privatization
(the top was in February 1994 retroactively calculated on 1245 points) the index started to decline fast, and ended the year 1994 with 557 points. In 1995 the decline continued (influenced by the Mexican crisis
, that discouraged foreign investors from emerging markets) and the index reached its first bottom on 29 June with 387 points. Then the index increased slowly and ended the year 1995 with 426 points. The slow increase continued in 1996 and the index reached its second top on 25 February 1997 with 629 points. In 1998 influenced by 1998 Russian financial crisis the index reached its historical bottom on 8 October with 316 points. In 1999 the index emerged back to 500 points. With the help of the dot-com bubble
and starting banks privatization, the index reached its second top on 24 March 2000 with 691 points. With the end of dot-com bubble and the IPB bank crisis, the index declined back to 500 points. In 2001, the index slightly decreased and with the help of the influence of the September 11, 2001 attacks
reached bottom on 17 September with 320 points. In 2002, the index slowly increased back to 500 points. In 2003 the index was rising, and ended the year with 659 points. With the help of the Czech Republic European Union
accession, the index continued rising in 2004. It reached 1000 points on 19 November and ended the year with 1032 points. The index continued rising in 2005 and ended the year with 1473 points. On 20 March 2006 the PN 50 index was merged with PX-D into the PX index. The index reached bottom on 13 June with 1167 points after legislative elections
, but ended the year with 1589 points. On 29 October 2007 it reached its top with 1936 points and ended the year with 1815 points. As result of financial crisis
reached 700 points on 27 October 2008, losing 50% of its value in two months, second financial crisis based bottom was reached on 18 February 2009 with 629 points.
Prague Stock Exchange
The Prague Stock Exchange or PSE is the Czech Republic's main securities market and currently the second biggest stock exchange in Central and Eastern Europe...
. Selected as the starting exchange day (a benchmark date) for the Index PX 50 was 5 April 1994 and its opening value was fixed at 1,000 points. At this time the index included 50 companies traded on the Prague Stock Exchange, accordingly named PX 50.
After an initial boom encouraged by voucher privatization
Voucher privatization
Voucher privatization is a privatization method where citizens are given or can inexpensively buy a book of vouchers that represent potential shares in any state-owned company...
(the top was in February 1994 retroactively calculated on 1245 points) the index started to decline fast, and ended the year 1994 with 557 points. In 1995 the decline continued (influenced by the Mexican crisis
1994 economic crisis in Mexico
The 1994 Economic Crisis in Mexico, widely known as the Mexican peso crisis, was caused by the sudden devaluation of the Mexican peso in December 1994....
, that discouraged foreign investors from emerging markets) and the index reached its first bottom on 29 June with 387 points. Then the index increased slowly and ended the year 1995 with 426 points. The slow increase continued in 1996 and the index reached its second top on 25 February 1997 with 629 points. In 1998 influenced by 1998 Russian financial crisis the index reached its historical bottom on 8 October with 316 points. In 1999 the index emerged back to 500 points. With the help of the dot-com bubble
Dot-com bubble
The dot-com bubble was a speculative bubble covering roughly 1995–2000 during which stock markets in industrialized nations saw their equity value rise rapidly from growth in the more...
and starting banks privatization, the index reached its second top on 24 March 2000 with 691 points. With the end of dot-com bubble and the IPB bank crisis, the index declined back to 500 points. In 2001, the index slightly decreased and with the help of the influence of the September 11, 2001 attacks
September 11, 2001 attacks
The September 11 attacks The September 11 attacks The September 11 attacks (also referred to as September 11, September 11th or 9/119/11 is pronounced "nine eleven". The slash is not part of the pronunciation...
reached bottom on 17 September with 320 points. In 2002, the index slowly increased back to 500 points. In 2003 the index was rising, and ended the year with 659 points. With the help of the Czech Republic European Union
European Union
The European Union is an economic and political union of 27 independent member states which are located primarily in Europe. The EU traces its origins from the European Coal and Steel Community and the European Economic Community , formed by six countries in 1958...
accession, the index continued rising in 2004. It reached 1000 points on 19 November and ended the year with 1032 points. The index continued rising in 2005 and ended the year with 1473 points. On 20 March 2006 the PN 50 index was merged with PX-D into the PX index. The index reached bottom on 13 June with 1167 points after legislative elections
Czech legislative election, 2006
Parliamentary elections were held in the Czech Republic on 2 and 3 June 2006.The pre-election campaign was fierce and mostly negative. A major scandal broke out few days before the election. The two largest parties had profited from the divisive campaign – both had obtained the highest percentage...
, but ended the year with 1589 points. On 29 October 2007 it reached its top with 1936 points and ended the year with 1815 points. As result of financial crisis
Late-2000s financial crisis
The late-2000s financial crisis is considered by many economists to be the worst financial crisis since the Great Depression of the 1930s...
reached 700 points on 27 October 2008, losing 50% of its value in two months, second financial crisis based bottom was reached on 18 February 2009 with 629 points.
| year | 1994 | 1995 | 1996 | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| max | 1245 | 587 | 582 | 629 | 517 | 526 | 691 | 515 | 479 | 659 | 1032 | 1478 | 1626 | 1936 | 1808 | 1195 | 1315 |
| min | 541 | 387 | 438 | 459 | 316 | 333 | 410 | 320 | 388 | 460 | 662 | 1051 | 1167 | 1565 | 700 | 629 | 1093 |
PX Index base
- ERSTE BANK (ISIN: AT0000652011)
- ČEZCEZ GroupCEZ Group is a conglomerate of 96 companies , 72 of them in the Czech Republic. It is involved in the electricity generation, distribution, and trade. CEZ Group operates also in Albania, Austria, Bosnia and Herzegovina, Bulgaria, Germany, Hungary, Kosovo, Poland, Romania, Serbia, Slovakia and...
(ISIN: CZ0005112300) - KOMERČNÍ BANKAKomercní bankaKomerční banka is one of the main banks in the Czech Republic. It serves about 1.5 million customers in more than 350 branches.The bank was founded in 1990 following separation of commercial activities from the former Státní banka československá . In 1992, the bank was partially privatized in...
(ISIN: CZ0008019106) - TELEFÓNICA O2 C.R. (ISIN: CZ0009093209)
- NWRNew World ResourcesNew World Resources Plc is Central Europe's leading hard coal and coke producer. The Company produces quality coking and thermal coal for the steel and energy sectors in Central Europe through its subsidiary OKD, a.s. , the largest hard coal mining company in the Czech Republic. NWR's coke...
(ISIN: GB00B42CTW68) - UNIPETROLUnipetrolUnipetrol is a large oil distributing company in the Czech Republic majority-owned by the Polish company PKN Orlen.-External links:*...
(ISIN: CZ0009091500) - VIG (ISIN: AT0000908504)
- CETVCentral European Media EnterprisesCentral European Media Enterprises is a Bermuda-based vertically integrated company. Founded by Ronald Lauder, it owns broadcast, content and new media operations in Central and Eastern Europe...
(ISIN: BMG200452024) - PHILIP MORRIS ČR (ISIN: CS0008418869)
- FORTUNA (ISIN: NL0009604859)
- PEGAS NONWOVENS (ISIN: LU0275164910)
- ORCOORCOOrco Property Group S.A. is a French real estate development company founded by Bernard Gauthier together with Jean-François Ott, owned mainly by ORCO Holding and, for tax reasons, based in Luxembourg, Parc d'Activités Capellen.- Structure, operations :ORCO operates, through its subsidiaries,...
(ISIN: LU0122624777) - AAA (ISIN: NL0006033375)
- KITDKIT digitalKIT digital is a global provider of end-to-end video management software and services. The company is headquartered in Prague, and maintains principal offices in Atlanta, Beijing, Boston, Buenos Aires, New York, Chennai, Cologne, Dubai, Hong Kong, London, Los Angeles, Madrid, Melbourne, Milan,...
(ISIN: US4824702009)
Past
- ECMECM Real Estate InvestmentsECM Real Estate Investments A.G. is real estate developer based in Luxembourg and active mostly in Czech Republic. Michal Janků is founder, CEO and through ECM Group N.V. largest shareholder of the company. In 2006 company went on IPO on Prague Stock Exchange and became part of PX Index...
(ISIN: LU0259919230) - ZENTIVAZentivaZentiva , is an international pharmaceutical company focused on developing, manufacturing and marketing modern generic pharmaceutical products. The Company has leading positions in the pharmaceutical markets in the Czech Republic, Slovakia, Romania, and Turkey and is growing in Poland, Russia,...
(ISIN: NL0000405173)