The PX Index (until March 2006 the PX 50) is a

capitalization-weighted index A capitalization-weighted (or cap-weighted) index, also called a market-value-weighted index is a stock market index whose components are weighted according to the total market value of their outstanding shares. Every day an individual stock's ...

of major stocks that trade on the

Prague Stock Exchange Prague Stock Exchange (PSE; ) is the largest and oldest securities market organizer in the Czech Republic. It is a 99.54 percent-owned subsidiary of Wiener Börse AG. PSE and its subsidiaries comprise the PX group. In addition to the Stock Exch ...

. It is calculated by the

Vienna Stock Exchange Vienna ( ; ; ) is the capital city, capital, List of largest cities in Austria, most populous city, and one of Federal states of Austria, nine federal states of Austria. It is Austria's primate city, with just over two million inhabitants. ...

. At the time of its inception, the calculation start date for the index was set to the 5th 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, being named accordingly as PX 50. In 2014, the Prague Stock Exchange introduced the

total return index A total return index is an index that measures the performance of a group of components by assuming that all cash distributions are reinvested, in addition to tracking the components' price movements.

PX-TR. It shares the same base as the PX Index but, unlike the PX index, the PX-TR takes

dividends A dividend is a distribution of profits by a corporation to its shareholders, after which the stock exchange decreases the price of the stock by the dividend to remove volatility. The market has no control over the stock price on open on the ex ...

into account.

History

PX-50

After an initial boom encouraged by

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. Voucher privatization has mainly been used in the early to mid-1 ...

(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 the

1998 Russian financial crisis The Russian financial crisis (also called the ruble crisis or the Russian flu) began in Russia on 17 August 1998. It resulted in the Russian government and the Russian Central Bank devaluing the Russian rouble, ruble and sovereign default, defau ...

, 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 The dot-com bubble (or dot-com boom) was a stock market bubble that ballooned during the late-1990s and peaked on Friday, March 10, 2000. This period of market growth coincided with the widespread adoption of the World Wide Web and the Interne ...

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 after the

September 11, 2001, attacks The September 11 attacks, also known as 9/11, were four coordinated Islamist terrorist suicide attacks by al-Qaeda against the United States in 2001. Hijackers in the September 11 attacks#Hijackers, Nineteen terrorists hijacked four com ...

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 The European Union (EU) is a supranational union, supranational political union, political and economic union of Member state of the European Union, member states that are Geography of the European Union, located primarily in Europe. The u ...

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.

PX index

On 20 March 2006 the PX 50 index was merged with PX-D into the PX index. The index reached bottom on 13 June with 1167 points after

legislative elections A general election is an electoral process to choose most or all members of a governing body at the same time. They are distinct from by-elections, which fill individual seats that have become vacant between general elections. General 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. Due to the

2008 financial crisis The 2008 financial crisis, also known as the global financial crisis (GFC), was a major worldwide financial crisis centered in the United States. The causes of the 2008 crisis included excessive speculation on housing values by both homeowners ...

, the index declined to 700 points on 27 October 2008, losing 50% of its value in two months; a second bottom was reached on 18 February 2009 at 629 points. ! 1994 , , 1995 , , 1996 , , 1997 , , 1998 , , 1999 , , 2000 , , 2001 , , 2002 , , 2003 , , 2004 , , 2005 , , 2006 , , 2007 , , 2008 , , 2009 , , 2010 , , 2011 , , 2012 , , 2013 , , 2014 , , 2015 , , 2016PX Index: Historical Data
/ref> , , 2017 , , 2018 , , 2019PX Index: Historical Data
/ref> , , 2020PX Index: Price data
/ref> , - , 1,245 , , 587 , , 582 , , 629 , , 517 , , 526 , , 691 , , 515 , , 479 , , 659 , , 1,032 , , 1,478 , , 1,626 , , 1,936 , , 1,808 , , 1,195 , , 1,315 , , 1,275 , , 1,041 , , 1,066 , , 1,046 , , 1,058 , , 954 , , 1,087 , , 1,140 , , 1,119 , , 1,142 , - , 541 , , 387 , , 438 , , 459 , , 316 , , 333 , , 410 , , 320 , , 388 , , 460 , , 662 , , 1,051 , , 1,167 , , 1,565 , , 700 , , 629 , , 1093 , , 843 , , 859 , , 853 , , 901 , , 846 , , 819 , , 919 , , 978 , , 989 , , 690

PX Index base

The components as of March 2020 are sorted by reduced market capitalization:PSE: PX Index Base
/ref> *

ERSTE BANK Erste Group Bank AG (shortened version Erste Group) is an Austrian financial service provider. It is one of the largest financial service providers in Central and Eastern Europe serving more than 16 million clients in over 2,000 branches in seven ...

(ISIN: AT0000652011) * ČEZ (ISIN: CZ0005112300) * KOMERČNÍ BANKA (ISIN: CZ0008019106) * (ISIN: CZ0008040318) - since 2016 * VIG (ISIN: AT0000908504) *

AVAST Avast Software s.r.o. is a Czech multinational cybersecurity software company headquartered in Prague, Czech Republic, that researches and develops computer security software, machine learning, and artificial intelligence. Avast had more th ...

(ISIN: GB00BDD85M81) - since 2018 * (ISIN: CS0008418869) *

STOCK Stocks (also capital stock, or sometimes interchangeably, shares) consist of all the Share (finance), shares by which ownership of a corporation or company is divided. A single share of the stock means fractional ownership of the corporatio ...

(ISIN: GB00BF5SDZ96) * (ISIN: LU0275164910) * (ISIN: CZ0009000121)

Past

* O2 C.R. (ISIN: CZ0009093209) - removed in 2022 * CETV (ISIN: BMG200452024) - removed in 2020 *

UNIPETROL Orlen Unipetrol is a Czech joint stock company owned by the Polish oil company Orlen. The company is engaged in crude oil processing and the production, distribution, and sales of fuels and petrochemical products – mainly plastics and fertilis ...

(ISIN: CZ0009091500) - removed in 2018 * (ISIN: CZ0005124420) - removed in 2016 * NWR (ISIN: GB00B42CTW68) - removed in 2016 *

ORCO The Orco (, that is lit. ''Water of gold''; ) is an Italian river. It originates in the Piedmontese slopes of Gran Paradiso and after about reaches the Po river near Chivasso, in the Metropolitan City of Turin. Its drainage basin is home to th ...

(ISIN: LU0122624777) - removed in 2014 * TMR (ISIN: SK1120010287) - removed in 2014 * (ISIN: NL0006033375) - removed in 2013 * KITD (ISIN: US4824702009) - removed in 2012 *

ECM ECM may refer to the following: Economics and commerce * Engineering change management * Equity capital markets * Error correction model, an econometric model * European Common Market Mathematics * Lenstra's Elliptic curve method for factor ...

(ISIN: LU0259919230) - removed in 2011 *

ZENTIVA Zentiva is a pharmaceutical company based in Prague, Czech Republic. The company is developing, manufacturing and marketing a wide range of generic and OTC products. Zentiva employs more than 4 700 people across Europe and has three manufacturi ...

(ISIN: NL0000405173) - removed in 2009

PX-TR

In March 2014 Prague Stock Exchange introduced new total return index PX-TR. The index shares same base as PX index, but unlike PX index take into account

. As the starting exchange day (a benchmark date) was selected 20 March 2006, when PX-50 and PX-D were merged. Main aim of creation of PX-TR index was to promote above average

dividend yield The dividend yield or dividend–price ratio of a share is the dividend per share divided by the price per share. It is also a company's total annual dividend payments divided by its market capitalization, assuming the number of shares is constan ...

of Prague Stock Exchange.PSE: Pražská burza zahájí výpočet Total Return Indexu PX
/ref>

References

External links

Prague Stock Exchange - Exchange IndicesBloomberg page for PX:IND
{{PX companies European stock market indices Economy of the Czech Republic