Prague Stock Exchange sees strongest weekly gain since April

The Prague Stock Exchange recorded its strongest weekly gain since April, with the benchmark PX index rising 3.13 percent to close at 2,657.34 points. This rebound follows two consecutive weeks of losses and was driven largely by the defense sector and banking stocks.

Defense group CSG was the week's top performer, climbing 10.56 percent to CZK 379.10. Additionally, Vienna Insurance Group (VIG) saw a 6.01 percent increase following an improved full-year earnings outlook. Banking shares, including Moneta Money Bank and Komerční banka, and energy company ČEZ also contributed to the market's upward movement.

In Germany, the DAX index closed higher, supported by gains in Rheinmetall, BMW, and Mercedes-Benz Group. Notably, Rheinmetall announced a 20 million euro investment to expand production capacities at its Albacete plant in Spain, where a new medium-caliber ammunition production line is expected to launch in October.