Friday, October 5, 2007

Two banking rivals - Erste vs. Societe Generale.

Last week on Prague Stock Exchange was in token of bulls. Main stock index PX50 is close to all time high (1881 points). The best performing was Erste Bank which was under bearish pressure after credit crunch. Weekly shares gained 8%. On the other side main rival Komercni banka (Societe Generale) lost 1.3%. Perhaps investors don't see a lot of potential for growth as stocks are reaching record price. P/E ratio is more or less the same for both (17). Investment plan in Ukraine helped Erste to grow this week.


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