The Prague Stock Exchange weakened again, most of the main issues lost

Prague – The Prague Stock Exchange weakened again today. The PX index fell by 0.38 percent to 1365.03 points. Most of the main issues of the stock exchange lost, the shares of the pharmacy chain Pilulka suffered the most. It follows from the results of trading on the exchange’s website.

Seven of the ten main issues posted losses today. Pilulka’s securities fell the most, by 2.78 percent to 280 crowns. The Pill’s share price has fluctuated considerably in recent weeks. It fell sharply mainly after the company published economic results on October 18, according to which its sales fell year-on-year in the first half of this year. By the beginning of November, Pilulka’s shares had weakened to 197 crowns, which was the lowest price since the beginning of their trading on the stock exchange.

The securities of the energy company ČEZ were among the weaker ones today, which recorded the largest volume of trades from the main issues. They wrote off 1.61 percent to 979.50 crowns. Komerční banka shares also ended in the red, dropping by 0.74 percent to 668 crowns.

Of the three strengthening main issues, shares of the insurance group VIG rose the most. They added 0.96 percent to 631 crowns. The price of Moneta Money Bank shares, which were among the most traded, also rose. They rose by 0.22 percent to 90.80 crowns.

At the end of the week, the koruna weakened against both major world currencies

Today, after two days of strengthening, the koruna reversed direction and weakened against both major world currencies. Compared to the euro, it was three pennies at 24.53 CZK/EUR compared to Thursday’s close. Against the dollar, the crown fell by 12 halers, at 17:00 it traded at 22.98 CZK/USD, according to the Patria Online server.

The Czech Statistical Office (ČSÚ) published data on October inflation today. Year-on-year growth in consumer prices accelerated to 8.5 percent from September’s 6.9 percent. This happened after the previous eight months of reducing the rate of inflation. However, the figure for October is affected by the fact that a year ago statisticians included the government’s energy saving tariff in the calculation as a discount on electricity. Without this influence, year-on-year inflation would have been below six percent this October.

The koruna first reacted to the new data by strengthening. “In the eyes of investors, the stoppage of the decline in the rate of inflation reduced bets on a December rate cut by the Czech National Bank. But then investors read that the increase in inflation was only a one-time measure and that the attitude of the Czech central bankers is unlikely to change,” said the director of Next Finance Markéta Šichtařová. Therefore, the koruna gradually lost its morning gains.