The Prague Stock Exchange gained slightly today after four previous losses

The Prague Stock Exchange gained slightly today after four previous losses
The Prague Stock Exchange gained slightly today after four previous losses

Prague – After four days of losses in a row, the Prague Stock Exchange slightly strengthened, the PX index rose by 0.1 percent to 1137.91 points. Among the leading issues, energy company ČEZ, insurance company VIG and Erste Bank improved, while Komerční banka and Moneta Money Bank weakened. This follows from data on the stock exchange website. On Monday, the Prague Stock Exchange closed at the lowest level since May 20 last year.

“During the day, the Prague Stock Exchange had a tendency to at least partially erase the losses from the previous days, and the PX index strengthened by more than one percent. However, the temporary gains did not last for the most part and the domestic index closed with only a small profit,” said David Brzek from Fio banka.

Banks ended today’s trading mixed. Erste Bank was the only gainer, whose shares gained 0.11 percent to 555 crowns. According to Brzek, the most significant turnover during the day was evident in the shares of Komerční banka. During the day, it traded safely above the 580 crown mark, but ended with a loss of 0.61 percent at 568 crowns.

“Although Komerční banka’s shares are relatively cheap and an extraordinary autumn dividend is still in play, with uncertainty regarding possible taxation and unflattering prospects for economic development, investors are still not very keen on the title,” Brzek added. Moneta Money Bank depreciated by 0.41 percent to 73 crowns.

In addition to Erste, ČEZ and VIG also strengthened among the leading issues. Energy shares rose in price by 0.38 percent to 914.50 crowns, and insurance company securities improved by 0.89 percent to 565 crowns.

The arms company Colt CZ and the company Photon Energy, which deals with the construction of solar power plants, did well from smaller emissions. Shares of Colt gained 1.5 percent to 541 crowns and Photon Energy gained 5.31 percent to 64 crowns.

Statisticians’ data on the condition of the Czech economy did not help the crown to strengthen

The koruna weakened slightly against the major world currencies today. Against the euro, it lost two pennies to 24.61 CZK/EUR since Monday evening. Against the dollar, it weakened by six pennies to 24.85 CZK/USD. This follows from data from the Patria Online server.

The Czech Statistical Office (ČSÚ) today published a series of data on the condition of the Czech economy. “The results of July industrial production, foreign trade and construction published this morning confirmed the deterioration of the condition of the domestic economy,” said economist Jana Steckerová from Komerční banka.

Industry in the Czech Republic slowed year-on-year growth to 0.8 percent in July from 2.7 percent in June. According to analysts, the results point to an impending recession of the Czech economy. Foreign trade, which ended in a deficit of 22.8 billion crowns in July, was 12.4 billion crowns higher year-on-year. The trade balance has been in deficit for half a year. After more than a year of growth, construction production fell by 2.7 percent year-on-year in July.

“The fact that foreign trade has reached a deficit means that due to foreign trade, the supply of crowns exceeds the demand for crowns,” points out the director of Next Fiance Markéta Šichtařová. In the long term, according to her, this creates pressure for the weakening of the koruna against the euro.

Exchange rate of the Czech currency:

Previous conclusion Today around 5:00 p.m
CZK/EUR 24.59 24.61
CZK/USD 24.79 24.85

Source: Patria Online

stock exchange currency BCPP conclusion

The article is in Czech

Tags: Prague Stock Exchange gained slightly today previous losses

NEXT Stories from the First Republic: free audiobook by Franta Habn from ikova