After Tuesday’s strengthening, the koruna lost slightly today

Commercial presentation Update: 24/04/2024 17:25
Issued by: 24/04/2024, 17:25

Prague – The koruna lost slightly against major world currencies today. The euro has weakened by a penny to 25.26 CZK/EUR since Tuesday evening. Against the dollar, it lost two pennies to 23.63 CZK/USD. This follows from data from the Patria Online server. The Prague Stock Exchange weakened slightly after two days of growth. The PX index fell by 0.08 pct to 1563.57 points.

The koruna strengthened to 25.19 CZK/EUR early this morning. Subsequently, however, it began to lose against the single European currency.

The scenario from the previous day was not repeated, when the koruna on the contrary strengthened. It was helped by Tuesday’s statement by the governor of the Czech National Bank (ČNB), Aleš Michl, that the central bank may reduce rates next week, but after that it will approach further reductions very cautiously.

The CNB started easing its monetary policy last December, when in the first step it lowered the base interest rate by a quarter of a percentage point to 6.75 percent. In February of this year, the central bank accelerated its rate cuts, reaching a half percentage point drop. At its last meeting in mid-March, the CNB board reduced the base interest rate to 5.75 percent.

The Prague Stock Exchange weakened slightly after two days of growth. The PX index fell by 0.08 percent to 1563.57 points. Even so, it remains at the highest values since the summer of 2008. Today, the shares of the insurance company VIG and the Erste group did well, on the contrary, the securities of the energy company ČEZ continued to weaken. This follows from the exchange’s website.

VIG shares improved by 0.67 percent to 750 crowns, Erste securities by 0.36 percent to 1119 crowns. According to Komerční banka broker Bohumil Trampota, both Erste and VIG recorded their sixth growth in a row. “Trading in Erste shares today was almost a third of the entire exchange,” said Trampota.

The shares of the beverage company Kofola and the arms company Colt CZ also ended in positive numbers.

ČEZ securities lost again, falling by 0.94 percent to 847 crowns. Shares of Komerční banka also weakened by 0.29 percent to 869.50 crowns, whose shareholders approved today at the general meeting the proposal of the board of directors to pay a dividend of 82.66 crowns per share before taxation from last year’s profit. Securities of Monety Money Bank, tobacco firm Philip Morris and drone maker Primoco UAV SE all closed unchanged.