The Prague Stock Exchange strengthened today, mainly banking stocks did well

Commercial presentation Update: 2/05/2024 17:50
Issued by: 2/05/2024, 17:50

Prague – The Prague Stock Exchange returned to growth after Tuesday’s decline, the PX index strengthened by 0.43 percent to 1555.44 points. Banking titles did particularly well. Conversely, the shares of the energy company ČEZ lost. Market activity was high. This follows from the data of the stock exchange website.

“The volume of transactions was approximately double the long-term average, when shares were traded on the main market for approximately CZK 870 million,” said Wood & Company broker Vladimír Vávra.

A total of 534 million crowns went to trades in Komerční banka shares, which were last traded today with a dividend. They appreciated by 0.58 percent to 874.50 crowns. “Tomorrow (Friday), we can expect a technical drop in the price by the amount of the dividend,” noted Fio bank analyst Martin Singer. Erste Bank added 1.58 percent to 1127.50 crowns and Moneta Money Bank improved by 0.32 percent to 95.40 crowns.

“On the contrary, ČEZ shares took a break today and wrote off part of the gains from the beginning of the week,” said Vávra. ČEZ securities fell by 0.98 percent to 861.50 crowns. The company Photon Energy, which deals with the construction and operation of photovoltaic power plants, also ended up in the red.

After today’s expected reduction in the basic interest rate and the new macroeconomic forecast of the Czech National Bank (ČNB), the koruna strengthened against both major world currencies. The euro reached just below the threshold of 25 crowns, when compared to the previous close it strengthened by 16 pennies to 24.99 CZK/EUR. It improved by a dime against the dollar and was trading at a rate of 23.39 CZK/USD around 17:00. This follows from information on the Patria Online server.

Exchange rate of the Czech currency: