The Prague Stock Exchange improved multi-year highs, bank shares helped

Commercial presentation Update: 28/03/2024 17:49
Issued by: 28/03/2024, 17:49

Prague – The Prague Stock Exchange improved its multi-year highs today. The PX index strengthened by 0.14 percent to 1515.16 points. On Wednesday, for the first time since the end of June 2008, it closed above 1500 points. Bank stocks helped him to further grow today. On the other hand, the energy company ČEZ lost. This follows from the data of the stock exchange website.

In the financial sector, Erste Bank was the most successful. Its shares rose by 1.17 percent to 1042 points. Komerční banka improved by 0.9 percent to 840 crowns and Moneta Money Bank by 0.59 percent to 102 crowns. VIG insurance company stagnated at 725 crowns.

ČEZ strengthened by more than 2.5 percent on Wednesday. Today, however, he handed over part of the profit, despite the fact that at the beginning of the day his shares approached 860 crowns. “Since then, seller pressures have prevailed,” noted Fio bank analyst Martin Singer. In the end, the title depreciated by 1.99 percent to 837 crowns.

Some other titles, on the other hand, lost on Wednesday and rose today. Today, Zbrojovka Colt CZ added 1.67 percent to 610 crowns. The Pilulka chain improved by 2.38 percent to 215 crowns.

Before Easter, the koruna strengthened against the euro and weakened against the dollar

After today’s publication of updated data on the development of the Czech economy, the koruna strengthened slightly against the euro and weakened against the dollar. On the last working day before the Easter holidays, the Czech currency closed at 25.30 CZK/EUR, compared to the previous close, it is three pennies stronger. On the contrary, it lost three pennies against the dollar and traded at 23.43 CZK/USD around 17:00. This follows from data from the Patria Online server.

The Czech economy fell by 0.2 percent last year, and grew by 0.2 percent year-on-year in the last quarter. The Czech Statistical Office today refined its previous figure from the beginning of March, which expected a full-year decline in gross domestic product (GDP) by 0.4 percent and in the last quarter by 0.2 percent.

This week, the koruna returned to the range of 25.30 to 25.40 CZK/EUR, in which it was already at the end of last week. According to analysts, more volatility can only be expected next week after the holidays, when most traders will return.